Responding to the increasing need for Research and Development (R&D) in local producers of halal products, the Malaysian International Halal Showcase 2018 introduces new collaborative programs to boost innovation during its four-day conference.
Director of Halal, F&B and Agro-Based Industry of MATRADE Muhammad Aminuddin Sham Tajudin said the 15th edition of MIHAS brings together researchers and students from local public universities such as Universiti Teknologi Mara (UiTM) and industry leaders to discuss, present and find solutions on how to elevate the standard of halal products and services in the country.
Speaking to AWANI Review at the Malaysia International Trade and Exhibition Centre (MITEC), Aminuddin said MIHAS has continued to grow and expand every year, attracting participants from over 40 countries including non-Muslim majority, advanced nations such as Japan, South Korea and Spain.
We make sure that MIHAS is held in Kuala Lumpur every year because we want to bring the world to the doorsteps of local halal producers
“MIHAS is known to be the World’s Largest Halal Trade Show, at the same time Malaysia is also being recognised, as the largest halal economy in the world.
“We make sure that MIHAS is held in Kuala Lumpur every year because we want to bring the world to the doorsteps of local halal producers. They don’t have to travel far to find partners to expand their business,” he said.
He added that in MIHAS, local traders are able to see a wide variety of products ranging from the areas of Islamic Finance, Pharmaceutical and Cosmetics, Logistics, Travel, Digital and Food, available at their disposal.
“Here, the world comes to you. This presents an unmissable opportunity for local halal producers seeking to break into international market to learn and network with their international counterparts,” he said.
Aminuddin added that the lucrative halal market continues to expand at a remarkable rate from USD 2.3 trillion in 2012 to up to USD 6.4 trillion in 2018. Food and Beverages make up the highest share of the pie with Reuters estimating that by 2030, the sector will be worth more than USD 2.1 trillion.
It is not only the F&B sector that is showing growth. The halal cosmetics industry is said to be worth USD 39 billion and the halal pharmaceutical industry will be worth USD 97 billion by 2030.
Aminuddin said that for Malaysia, the halal tourism sector becomes a huge driver of food, beverage and hospital sales especially following investments from the UAE, Maldives, Spain, Japan, the Philippines and Russia.
The halal tourism market now represents 11.6 per cent of global tourism expenditure, including the busy Hajj and Umrah seasons
The halal tourism market now represents 11.6 per cent of global tourism expenditure, including the busy Hajj and Umrah seasons.
“We are only growing into greater heights from here. MIHAS is playing its role as a catalyst for local halal producers and companies to venture into the global market while strengthening Malaysia’s position as the global halal hub.
“Which is why we at MIHAS are very proud to say that we have welcomed over 800 companies across 40 countries this year. We are doubling in size, from 600 booths in the previous year to 1,100 booths in 2018.
“We have also extended the number of programs such as additional conference, colloquium, Trade Talk, Industry Zone and INSP. At the same we introduced a new cluster called Islamic Finance within the halal industry,” he said.