November-December . 2024 | @ Halal

With RM 4.3 billion in sales , MIHAS 2024 exceeded last year ’ s figure by 34 per cent

BY ZAFIRAH ZAFRUDDIN

MIHAS attracted 38,566 visitors last year and achieved RM 3.2 billion in sales , setting a new benchmark for the global halal industry .

This year , MIHAS exceeded expectations by generating RM 4.3 billion in sales , surpassing the initial target of RM 3.5 billion . This also means a remarkable 34 per cent increase compared to the previous year ’ s showcase .

Since its inception in 2004 , MIHAS has benefited nearly 17,000 Malaysian exporters and foreign buyers . It has generated almost RM25 billion in total sales and attracted 500,000 trade visitors , living up to its reputation as the premier global trade fair for halal products and services .

The 20th edition of this renowned showcase was graced by the presence of the Prime Minister of Malaysia Dato ’ Seri Anwar Ibrahim , Deputy Prime Minister and Minister of Rural and Regional Development Dato ’ Seri Dr Ahmad Zahid Hamidi , and Minister of Investment , Trade and Industry ( MITI ) Tengku Zafrul Abdul Aziz .

Malaysia External Trade Development Corporation ( MATRADE ) Chairman Dato ’ Sri Reezal Merican Naina Merican and MATRADE Chief Executive Officer ( CEO ) Datuk Mohd Mustafa Abdul Aziz were also present .

INCLUSIVITY IN THE HALAL INDUSTRY

Speaking at the MIHAS 2024 opening ceremony , the Prime Minister underlined how the concept of halal has expanded beyond its conventional limits , highlighting its emergence as a significant economic driver .

“ The Islamic economy is not just focused on ensuring financial institutions adhere to Islamic principles , such as avoiding interest ( usury ), stated Anwar .

“ While we have made significant progress in this area , the concept of Maqasid Syariah calls for a more expansive approach .”

By aligning with the principles of MADANI Economy and Maqasid Syariah , the halal industry aims to support a wide range of economic actors .

This includes not just established businesses but also farmers , fishermen , small vendors and small and medium-sized enterprises ( SMEs ).

Such an approach is necessary to build an inclusive and sustainable economy , which , in turn , promotes a more equitable distribution of wealth and opportunities among all members of society .

Anwar also highlighted the diversity within Malaysia ’ s halal sector , which encompasses individuals from various religious backgrounds .

“ As you can see at this exhibition , participants include Muslims , Christians , Hindus , and Buddhists , all coming together as true

MIHAS 2024 Opening Ceremony .

( From left to right ) Datuk Mohd Mustafa Abdul Aziz , Dato ’ Seri Dr Ahmad Zahid Hamidi , Datuk Seri Anwar Ibrahim , Tengku Zafrul Abdul Aziz and Dato ’ Sri Reezal Merican Naina Merican .

Tengku Zafrul Abdul Aziz receiving the Guinness World Record certificate for the ‘ Largest Attendance for the Halal Trade Show ’.

“ The Islamic economy is not just focused on ensuring financial institutions adhere to Islamic principles , such as avoiding interest ( usury ).”

– Prime Minister

Malaysians to ensure the success of the halal industry .

“ The support from almost 66 countries present showcases the immense economic potential and the benefits this brings to Malaysians from all walks of life .

“ When we talk about halal , we talk about Islam with that . We are talking about the interest of all Malaysians without discrimination ,” Anwar added .

PROMOTING EXPORTS

The growth of the halal industry in Malaysia can be attributed , in part , to its exports of halal products and services to global markets .

According to the MITI Minister : “ Our country ’ s halal industry is only complete with the export promotion ecosystem led by MATRADE .

“ The implementation of the National Trade Blueprint ( NTBp ) championed by MATRADE aims to increase the competitiveness of Malaysian trade , including for the halal industry .”

The NTBp consists of eight strategic thrusts , with one aimed at boosting economic growth through targeted investments and export diversification . In addition to international fairs like MIHAS , MATARDE organises trade missions to targeted countries , facilitating market access for Malaysian halal products .

“ Our goal is to establish export clusters and attract global companies to source halal products and services from Malaysia , including those from micro , small and medium enterprises ( MSMEs ),” said Zafrul .

To further support its export initiatives , MITI is promoting the export digitisation agenda . MITI is urging Malaysian companies , particularly MSMEs , to take advantage of cross-border e-commerce platforms via the eTRADE Programme .

The programme offers incentives for product listings on international e-commerce platforms , participation in digital marketing activities and training .

Apart from the programme , Malaysian MSMEs can also benefit from the Free Trade Agreements ( FTAs ), such as the Regional Comprehensive Economic Partnership ( RCEP ) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ( CPTPP ).

RCEP and CPTPP account for 28 per cent and 11.5 per cent of global GDP , respectively .

These agreements grant Malaysian exporters preferential market access and zero-rate tariffs . This approach is anticipated to enhance the competitiveness of Malaysian products and services on the international stage . –