Malaysia External Trade Development Corporation (MATRADE) is taking the halal agenda globally during the World Expo 2020 by focusing on bringing together businesses to capture business-to-business (B2B) opportunities, as well as seeking government-to-government (G2G) cooperation.
“We know that other countries are also looking to collaborate with Malaysia in order to strengthen the global halal ecosystem as the global halal industry presents a huge opportunity with the market now valued at US$3.1 trillion. Malaysia remained a major global leader in the Halal economy, sustaining its top position in the Global Islamic Economic Indicators (GIEI) for eight consecutive years. This is a promising indicator of recovery for Malaysia’s Halal export performance, in line with the country’s outstanding trade performance that we have seen in the first nine months of 2021” said Madam Sharimahton, Deputy CEO of Malaysia External Trade Development Corporation, who is currently leading a trade delegation from 14 to 20 November 2021 comprising of halal food and beverages suppliers, logistics and ICT service providers to Dubai, UAE in conjunction with the Expo 2020.
As the national trade promotion organisation of Malaysia, MATRADE is leading the Export Acceleration Mission (EAM) on Halal Digital Ecosystem from 14 to 20 November 2021 to forge lasting partnership at the Expo 2020 in Dubai, UAE. With the theme “Connecting Minds, Creating the Future”, the World Expo 2020 in Dubai will be an excellent platform for the Malaysian exporters to connect with global community boosting Malaysia’s leadership in halal global trade and economy.
Collaboration with UAE
Malaysia recognises the fact that the UAE has also established itself as a regional hub for halal products and services. The collaboration will include knowledge sharing, capacity-building and business matching to create a vibrant and sustainable business landscape for the Muslim-friendly consumer segment using Dubai’s extensive regional trade network.
She stressed that countries must move together as they play a major role in terms of promoting the halal agenda globally. “Cooperative competition will eventually benefit us, but most importantly, we have to find ways to work together and achieve mutual recognition to develop more business opportunities,” she said.
Engine of Economic Growth
The world has recognized the halal industry as the new engine of economic growth. It can be seen from the increase of halal products in many countries which is not limited only to Muslim majority countries. Indeed, halal is not perceived as a mere label by its users. The values underlying halal such as quality assurance, enhancement of social wellbeing, protection of the environment and ethics of business conduct resonate with people across religion and cultural boundaries.
The Halal sector is not limited to food and beverages only but also includes cosmetics, personal care, pharmaceuticals and services such as logistics and e-commerce ecosystem. Many countries have recognised the opportunities in the halal industry and are now racing to be the top halal providers. It is also an effort to cope with market demand that has gradually increased in recent years.
Digitalisation in Halal
The digitalisation agenda for Malaysia’s Halal industry, was spearheaded through the introduction of its first virtual edition of the 17th Malaysia International Halal Showcase (MIHAS) which continues to open from 9th September until 31st December 2021 with the theme “Empowering Halal, Tomorrow, Together”. The first virtual edition of MIHAS was positioned to take centre stage of global halal trade after its absence for over 2 years since April 2019, in addition of reinforcing the nation’s economic recovery phase by creating market opportunities for Halal players in Malaysia especially the SMEs. The virtual edition of MIHAS has reached a global audience with more than 14,000 visitors and 55% international exhibitors from 43 countries and generated more than USD480 million of export sales as at the end of October. Following the success of MIHAS, this Export Acceleration Mission on Halal Digital Ecosystem to Dubai at the World Expo 2020 continues to drive the momentum and visibility of Malaysia’s halal products and services to reach global consumers in tandem with the positive direction of the global economy as it bounces back from the pandemic.