Mihas eyes international expansion, targets RM1bil sales in Dubai Expo debut

KUALA LUMPUR: The Malaysia International Halal Showcase (Mihas) is preparing for global expansion to widen its reach beyond the local market. This initiative, known as Mihas @Dubai, will be launched alongside the Middle East Organic and Natural Product Expo in Dubai from Nov 18-20, 2024, with the goal of achieving RM1bil in sales.

The Malaysia External Trade Development Corporation (Matrade) CEO Datuk Mohd Mustafa Abdul Aziz highlighted the importance of this strategic move, aiming to establish Mihas as a renowned global event. By attracting participants and buyers from Western Asia, South Asia, and Africa to the flagship event in Kuala Lumpur, the goal is to position Malaysia as a key player in the international halal industry.

Choosing Dubai as the location for Mihas @Dubai allows Matrade to leverage the city’s strategic position, dynamic business environment, and increasing interest in halal products. The CEO expressed confidence in achieving the RM1bil sales target during the event.

The event will showcase a diverse range of Malaysian halal products and services, with 150 to 200 participants from various companies ready for export. Sectors such as food processing, pharmaceuticals, beauty, cosmetics, and health products will be promoted, with potential inclusion of other sectors like services.

The Middle East Organic and Natural Products Expo, held at the Dubai World Trade Centre, is the largest trade exhibition in the Middle East for organic and natural products.

Looking at Malaysia’s trade performance, Mohd Mustafa noted a double-digit expansion of 13.3% to RM234.73bil in January 2024 following 10 months of year-on-year contraction. The utilization of free trade agreements like RCEP and CPTPP is crucial to facilitating Malaysian products’ access to wider markets and boosting export growth as highlighted in the New Industrial Master Plan 2030.

Despite expected global trade growth of 3.3% according to the World Trade Organization, uncertainties from geopolitical tensions, ESG market demands, supply chain disruptions, and commodity price fluctuations may still impact trade in 2024. Political changes in key trading partners like the US, South Korea, and India could also have significant implications on trade and international relations.

In 2023, Matrade achieved milestones such as organizing the largest-ever Mihas edition with total sales of RM3.2bil, launching initiatives like the Sustainability Action Values for Exporters (SAVE) program, Export Day, Mid-Tier Companies CEO Summit Exporters Development, and acquiring naming rights for the Matrade Loftus Road Stadium.