MATRADE Targets $230 Million in Export Sales at MIHAS@Dubai

Malaysia External Trade Development Corporation (MATRADE) on Tuesday said that it will aim for $230 million in export sales at the upcoming MIHAS@Dubai, set to take place from November 18 to 20 at the Dubai World Trade Centre in 2024.

This inaugural event, coinciding with the Middle East Organic and Natural Product Expo, will feature the participation of approximately 250 Malaysian companies.

MATRADE Chairman Seri Reezal Merican Naina Merican, said that MIHAS@Dubai, marks the first international event overseas with the largest Malaysian companies’ participation led by corporation.

He emphasised the event’s potential in capitalising on the expanding halal market in the Middle East and strengthening Malaysia’s position as a global leader in the halal industry.

A diverse range of sectors will be represented at the event, including food and beverage, beauty, agriculture and environment, Muslim-friendly travel, franchise, Islamic finance, and halal logistics, he said.

Datuk Seri Reezal also underscored the crucial role of government initiatives in bolstering Malaysia’s leadership in the halal sector. He cited advancements in research and the development of robust infrastructure as key factors that have fuelled industry growth.

Echoing these sentiments, MATRADE CEO Datuk Mohd Mustafa Abdul Aziz described MIHAS@Dubai as a stepping stone towards further internationalising the MIHAS brand, particularly in the Middle East. He added that this approach follows the trend of other international exhibitions being hosted outside their home countries, reflecting MATRADE’s commitment to excellence.

Mohd Mustafa also noted that Dubai’s strategic location in the Middle East offers excellent connectivity, enabling Malaysian exporters to access regions such as the Middle East, North Africa, and South Asia.

In addition, MATRADE will organise an International Sourcing Programme (INSP) at MIHAS@Dubai, which will involve 120 buyers from various regions, including premium buyers identified by MATRADE offices in Dubai, Doha, and Jeddah.

Since its inception in 2004, MIHAS has become a key platform for local and international businesses in the halal trade, contributing significantly to the global halal economy. The recently concluded 20^th edition of MIHAS, held in Kuala Lumpur, attracted over 43,000 trade visitors and recorded a trade value of more than $815 million.

Growing Trade

Malaysia’s trade from January to September 2024 rose 10.2% to $490 million, exceeding the $460 million mark within nine months, compared with first ten months in 2023.

In line with the World Trade Organisation’s (WTO) projection that Asia’s exports would increase by 7.4% in 2024, Malaysia’s nine-month exports expanded by 5.2% to $260 million and imports rose 16.1% to $240 million, resulting in a trade surplus of $21.09 billion.

In September 2024, Malaysia’s trade performance continued its strong momentum, solidifying its upward trend, registering the ninth consecutive month of year-on-year expansion, MATRADE said.

Growth in exports were seen for optical and scientific equipment, palm oil and palm oil-based agriculture products as well as machinery, equipment and parts.

In terms of markets, significant export growth was registered to the United States (US), the European Union (EU) and Taiwan. In addition, exports to Taiwan reached an all-time high, driven by exports of electrical and electronic (E&E) products particularly semiconductor devices and integrated circuits (ICs).