Malaysia External Trade Development Corporation (Matrade) CEO Mustafa Abdul Aziz said the four-day halal trade expo aims to pull in local and foreign businesses, including those from non-Islamic countries.
“Even non-Islamic countries are looking at this sector (halal), not to associate halal to religion, but to look at it as a sector that provides clean and traceable products,” he said.
Citing the example of China, Mustafa noted that the Asian economic powerhouse will be opening 111 booths at the upcoming trade event, which is targeting the participation of 40 countries in total.
This year’s halal trade expo, Mustafa said, will focus on companies with the ability to export, adding that “the best part of Mihas is that we (are able to) bring in foreign buyers”.
According to international trade and industry minister Tengku Zafrul Aziz, Malaysia has long been a pioneer in the halal industry, having been ranked as the leading halal economy in the world for nine consecutive years.
“We are projecting that our halal industry will expand to US$113.2 billion (RM506.3 billion) by 2030, with a gross domestic product contribution of 8.1% by 2025,” he said.
Malaysia’s halal exports jumped 63.8% to RM59.46 billion in 2022, a growth trend which Tengku Zafrul said Malaysia should capitalise on through its recently launched halal industry master plan 2030 and key business-to-business platforms like Mihas 2023.
“With the world’s Muslims making up 25% of the global population, and the halal economy projected to touch US$5 trillion (RM22.4 trillion) by 2030, there are numerous opportunities for Malaysian businesses to capture,” the minister said.
Mihas 2023 will see the attendance of Prime Minister Anwar Ibrahim and is expected to receive a record-breaking 35,000 visitors with 1,500 booths from over 40 countries.
Last year, Mihas exceeded expectations by raising RM2.39 billion in trade value as opposed to the targeted RM1.9 billion.
Themed “Paving the Way of Halal”, the four-day hybrid event will be held at the Malaysian International Trade and Exhibition Centre from Sept 12 to 15.
Price for a space starts at RM1040 per sq m for a bare space and goes up to RM1600 per sq m for spaces with upgraded shell schemes (minimum 18 sq m).