Matrade Expects 5% Growth In Sales In Mihas 2020

MALAYSIA External Trade Development Corp (Matrade) is expecting to achieve a 5% growth in sales at the Malaysia International Halal Showcase (Mihas) 2020, up from the RM1.6 billion sales recorded at Mihas 2019 in April this year.

The modest target figure is influenced by the global economic slowdown, Matrade CEO Datuk Wan Latiff Wan Musa said. “We know that the situation at the moment is not very conducive and perhaps it will continue until next year due to the global economic downturn, but the fact that we are bringing in more exhibitors and buyers, (means) we (can) expect sales to still increase,” he told the press at the soft launch of Mihas 2020 in Kuala Lumpur yesterday.

Organized by Matrade, the 17th edition of Mihas is themed “Expand Your Halal Horizon” and will promote sustainability practices among halal-based industry players.

2020 will be a significant year for Malaysia, Wan Latiff said, as various plans are already scheduled to drive the country’s sustainability agenda to give Malaysian exporters a long-term strategic advantage.

Matrade recently launched the Sustainability Action Values for Exporters (SAVE) campaign. It also recently organized the Sustainability-Ready Exporters (Su-RE) conference with about 500 participants.

“Speaking about how sustainability and Mihas are interrelated if you read the guidelines of halal standards, it emphasizes care for the environment, fair trade, safety, cleanliness and hygiene which is consistent with the elements of sustainability,” he said.

Halal and sustainable practices will lead to the Halalan Toyyiban lifestyle which Mihas is endorsing, he added.

The 2020 edition of the showcase is expected to host around 1,300 booths featuring local and international companies, against the 1,000 booths this year.

Among the participants are halal-certified and trade-ready companies, buyers, leading brands, manufacturers, distributors, and suppliers.

Over 35,000 visitors from 90 countries are expected to attend the event.

The congregation is set to be the largest, with stronger participation from foreign companies, since the event’s inception in 2004.

A total of 928 exhibitors participated in Mihas 2019. The number for next year is set to increase to 1,000 exhibitors, 60% of which will be by local companies while the remaining 40% are foreign players.

About 50% of exhibitors from this year have already confirmed they will return for Mihas 2020, to showcase various halal sectors including food and beverages, food technology manufacturing, pharmaceuticals, cosmetics, logistics, tourism, Islamic finance, digital, and franchise.

The event will be held at the Malaysia International Trade and Exhibition Centre in Kuala Lumpur.