MALAYSIAN halal exports were valued at RM30 billion in 2021 and by 2025, Malaysia External Trade Development Corp (Matrade) is targeting to achieve RM50 billion.
CEO Datuk Mohd Mustafa Abdul Aziz said according to the Global Islamic Economy Report, the global halal industry is valued at RM8.8 trillion and will reach RM14 trillion by 2028.
“Halal is more on the cleanliness issue — make known where sources come from. In South Korea and Japan, the halal industry is booming — during the Tokyo Olympics, Japan pushes for the halal industry to cater to Muslim participants. And the pandemic has taught us that everything should be clean,” he said during an interview session with the media on the International Sourcing Programme Malaysia International Halal Showcase (INSP Mihas) in Kuala Lumpur today.
On Mihas export sale, Mohd Mustafa said Matrade is targeting RM1.9 billion for the exhibition this year, compared to RM2.31 billion achieved last year.
“The decrease in target is due to the method of organising. Previously, our exhibition was held virtually from September to December and the INSP session was held online for about five months. Meanwhile, this year, Mihas is held in a hybrid mode and the virtual programme will be extended to Nov 15.
“We encourage more small and medium enterprises to leverage from this programme which is organised annually. We also encourage Malaysian companies to be active online in ensuring interest towards achieving the target,” he added.
Commenting on greening the exports of supply change, he said that from January to July this year, Malaysian halal export stood at RM873 billion for seven months.
“For January to August on the assumption that if it did touch RM125 billion a month on export, our exports to the world will touch RM1 trillion. How important sustainability is in that the US has now imposed the sustainability aspect, as well as the European Union and Japanese market.
“These three markets are very important because they represent 25% of our global export (RM250 billion worth of Malaysian exports) and will be gone if we don’t comply with the sustainability requirements,” he further added.
Meanwhile, the physical INSP Mihas hosted pre-arranged business meetings for over 200 international buyers and more than 300 sellers which comprises Malaysian exporters on Sept 6.
The flagship business matching programme recorded some 1,500 pre-arranged business-to-business (B2B) meetings for the physical event; while the virtual session hosted about 200 international buyers and over 200 Malaysian exporters. The virtual programme which started in May is estimated to generate RM43.1 million potential sales.
The B2B meeting encompasses premium buyers globally including Qatar, Saudi Arabia, the US, India and Turkiye which represent some of the largest conglomerates, retailers and supermarkets in their respective countries.
“Matrade is thrilled to see the INSP Mihas programme being well received by both international buyers and Malaysian exporters,” said Mohd Mustafa.
According to him, Matrade has received continuous demand well beyond the closing date of the virtual programme on Aug 31, after running it for four months.
Combining both physical and virtual mediums, INSP Mihas is being of service to 500 Malaysian exporters in matching with about 400 buyers from 50 countries including from the Middle East, Europe, Central Asia, South Asia, Asean, Oceania and the African region.
Source: https://themalaysianreserve.com/2022/09/06/matrade-aims-rm50b-in-2025-for-malaysian-halal-exports/