MIHAS 2024: MATRADE targets RM3.5 billion in sales, expands global halal footprint

KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) is aiming to achieve RM3.5 billion in sales during the Malaysia International Halal Showcase (MIHAS) 2024.

According to Deputy Chief Executive Officer, Abu Bakar Yusof, this milestone is expected to surpass the RM3.2 billion sales recorded at MIHAS 2023.

“Celebrating its 20th anniversary, MIHAS 2024 will operate under the theme 'Globalising Halal Innovations', reflecting the event’s continuous effort to foster international growth in the halal sector.

“The showcase will introduce a new Halal Ingredients cluster, adding to the existing 13 clusters covering areas such as food and beverages, cosmetics, fintech, pharmaceuticals, and Muslim-friendly hospitality.

“As part of the International Sourcing Programme (INSP) within MIHAS, a total of 330 buyers, including 20 premium buyers, will engage in business-matching sessions with Malaysian companies, with a potential sourcing value estimated at RM1.7 billion,” he said.

In addition, Abu Bakar added that MATRADE will continue to expand MIHAS globally.

One notable effort includes the launch of MIHAS@Dubai, scheduled to take place at the Middle East Organic and Natural Product Expo in November 2024.

“This initiative, which targets RM1 billion in sales, is set to strengthen MIHAS’ international reach, positioning Malaysia as a leader in the global Halal industry.

“MIHAS 2024 will also feature its Knowledge Hub, hosting four “Meet the Experts” sessions with specialists from international trade associations and key industries, further enhancing business knowledge and opportunities in the halal sector,” he explained in an interview with Niaga AWANI on Monday.