Reezal Merican Naina Merican, MATRADE chairman.
MATRADE chairman Reezal Merican Naina Merican told reporters on the sidelines of the recently concluded MIHAS 2024 in Kuala Lumpur that the event is poised for international expansion, first in Dubai from November 18 to 20, and followed by China and other European countries.
“We are set to organise ‘MIHAS@Dubai’, which will be held within the ‘Middle East Organic and Natural Products Expo’, featuring a 600-strong Malaysian delegation occupying 200 booths.
“This move aims to tap into the Middle East and North Africa (Mena) region, which is a key market with significant potential. This expansion offers Malaysian companies direct access to one of the world’s most dynamic halal markets and provides international businesses with yet another platform to engage with the Malaysian halal industry players,” Merican said in a speech.
According to Merican, halal “has stood as a beacon of innovation and opportunity in the global market,” thus MATRADE’s efforts of charting a new course for the future of the global halal market.
Merican said the clusters to be showcased during ‘MIHAS@Dubai’ will include sectors, such as beauty care, healthcare and wellness, franchise, lifestyle, food and beverages (F&B), Muslim-friendly travel, Islamic finance, and many other halal sectors and products.
“The internationalisation of MIHAS is crucial to our success and underscores our commitment to advancing Malaysian businesses in the global halal market. By elevating the MIHAS brand to new heights, we aim to position it alongside the leading global exhibitions, which demonstrates our strong dedication to achieving excellence at the global fora,” Merican explained.
Figures provided by MATRADE revealed that Malaysia’s halal export value is expected to reach nearly RM55bn in 2024, marking the second consecutive year it has surpassed the RM50bn mark.
Merican noted that this signifies the robust performance of Malaysia’s halal sector, which is mainly contributed by a variety of products, F&B, halal ingredients, cosmetics, palm oil derivatives, and industrial, chemical, and pharmaceuticals.
He said, “The scale of the opportunities in the global halal market before Malaysia is indeed sizeable. The global halal market now is expected to grow to $5tn by 2030. This isn’t just a number. It represents a seismic shift in consumer preference and market dynamics.
“With the global Muslim consumer and population expected to reach 2.2bn, accounting for 26%of the entire world population, the demand for halal products and services is set to rise.”
Merican added: “But what makes this market truly fascinating is its broad appeal, which extends far beyond the Muslim demographic. This demonstrates that halal is no longer merely a religious requirement, but it has also become a global standard for quality, safety, and ethical production.”
