KUALA LUMPUR: The Malaysia International Halal Showcase (MIHAS) 2024 achieved RM4.3 billion in sales, surpassing the RM3.2 billion recorded in 2023 by 34 per cent, said the Malaysia External Trade Development Corporation (MATRADE).

In a statement today, MATRADE said the improvement was driven by agricultural produce, which accounted for the largest share of this year's sales at 26.3 per cent, followed by prepared food at 26.1 per cent, beverages at 12.5 per cent, and emerging sectors such as pharmaceuticals, toiletries, cosmetics, and packaging and containers, which also ranked among the top contributors.

Reflecting on the outcome of MIHAS 2024, Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz said MIHAS has positively contributed towards the objectives of the Halal Industry Master Plan 2030 (HIMP 2030) and the New Industrial Masterplan 2030 (NIMP 2030).

"Beyond the immediate RM4.3 billion in sales, what is equally important is how MIHAS fosters further public-private collaboration to keep strengthening our halal industry ecosystem and help more Malaysian companies go global.

"With the debut of MIHAS@Dubai this coming November, we expect the Malaysian halal industry to expand further in the Middle Eastern and North African (MENA) market, home to around 20 per cent of the world's Muslim population," he said.

Meanwhile, MATRADE chairman Datuk Seri Reezal Merican Naina Merican said this year's sales trajectory highlights MIHAS's role in strengthening international trade relations for both Malaysian businesses and the global halal industry.

"It has proven to be an effective platform for bringing together market players and creating sustainable global supply chains," he said.

The MATRADE chairman also noted that the trade fair witnessed the signing of 24 memorandums of understanding (MOUs) between Malaysian and international organisations and companies, valued at RM111 million, further showcasing the potential of Malaysia's halal ecosystem.

The trade fair, held from Sept 17 to 20, 2024, at the Malaysia International Trade and Exhibition Centre (MITEC), attracted 43,353 visitors from over 90 countries.

It featured 2,028 booths from 66 countries, showcasing products and services across 14 distinct clusters under the theme "Globalising Halal Innovations".

MATRADE highlighted that MIHAS has evolved from a conventional exhibition into a pivotal platform that facilitates industry networking and fosters new opportunities and partnerships.

It also noted that the International Sourcing Programme (INSP), conducted both in-person alongside MIHAS on Sept 18, 2024 and virtually since Feb 15, 2024, has connected 330 international buyers with 800 local sellers, generating RM2.52 billion in potential sourcing value.

"This figure may increase as the virtual INSP continues until Nov 30, 2024," MATRADE added.