Taiwan and Malaysia Join Forces to Expand Halal Cosmetics Market

In a significant move to bolster international trade and collaboration, Taiwan and Malaysia are partnering to host a series of online events focused on the burgeoning Halal cosmetics market. This initiative reflects the growing interest and demand for Halal-certified beauty products and aims to strengthen business ties between the two nations. The Ministry of Economic Affairs (MOEA) of Taiwan, in collaboration with SME Corporation Malaysia, is spearheading these efforts to create new opportunities for enterprises in both countries.

Overview of the Online Events in Taiwan Malaysia

The upcoming online events, scheduled for August 20 and September 5, 2024, are set to be pivotal in fostering connections and exploring business opportunities in the Halal cosmetics sector. These events will provide a comprehensive platform for industry players to engage in meaningful discussions and establish valuable partnerships.

• Forum on August 20: The first event will be a forum designed to address key topics related to the Halal cosmetics market. This forum will feature a range of discussions on regulatory frameworks, market trends, and successful business strategies in both Taiwan and Malaysia. Attendees will gain insights from industry experts and thought leaders who will share their experiences and knowledge about the Halal beauty sector.
• Business Matching Session on September 5: Following the forum, the business matching session will take place on September 5. This session aims to connect Taiwanese and Malaysian businesses, facilitating direct interactions between potential partners. With 41 Malaysian businesses already signed up, this session is expected to generate numerous opportunities for collaboration and trade.

Key Highlights of the Forum

The forum will include several notable speakers and presentations:

1. Tim Lin, CEO of SEAbizs: Tim Lin will present successful case studies of Taiwanese cosmetic companies that have successfully entered the Malaysian market. His presentation will highlight strategies and best practices for Taiwanese businesses looking to expand into Malaysia and capitalize on the growing demand for Halal-certified products.
2. Vivi Saliza binti Sunaini, Senior Assistant Director of the Secretariat of the Malaysian Halal Council (JAKIM): Vivi Saliza will provide an in-depth analysis of Malaysia’s Halal certification regulations and their impact on the cosmetics industry. Her insights will be valuable for understanding the regulatory landscape and ensuring compliance with Halal standards.
3. Tanamera Representative: A representative from Tanamera, a leading Malaysian Halal-certified brand, will discuss the potential of the Malaysian Halal cosmetics market. This presentation will offer a detailed overview of market opportunities and consumer preferences, providing valuable information for Taiwanese businesses seeking to enter this segment.

Business Matching Session Details

The business matching session on September 5 will feature a diverse range of Malaysian businesses interested in exploring partnerships with Taiwanese companies. Participants include:

• Suba Beauty Care: This company is actively seeking to purchase Taiwanese cosmetic products. The session will provide an opportunity for Taiwanese manufacturers to showcase their products and explore potential deals.
• TH Alliance Connect: TH Alliance Connect is looking for manufacturers to collaborate with. Taiwanese firms with manufacturing capabilities will have the chance to connect with this company and discuss potential partnerships.
• Kasyifah Spa: This enterprise is interested in technological cooperation. Taiwanese companies specializing in innovative beauty technologies can explore collaboration opportunities with Kasyifah Spa.
• Avantcom International: Avantcom International is seeking distribution agents. Taiwanese businesses with distribution capabilities will be able to connect with this company and discuss potential distribution agreements.

Market Trends and Demand for Halal Cosmetics

The Halal cosmetics market in Malaysia is experiencing robust growth, driven by a significant consumer preference for Halal-certified products. Approximately 70 percent of Malaysia’s population prefers Halal products, reflecting a strong demand within the market. This preference is not limited to food and beverages but extends to beauty and personal care products.

In recent years, Malaysia has witnessed a 22.5 percent increase in the import of cosmetics, underscoring the growing demand for beauty products that meet Halal standards. This trend presents a substantial opportunity for Taiwanese businesses to enter the Malaysian market and capitalize on the rising interest in Halal-certified beauty products.

Taiwan-Malaysia Collaboration: A Strategic Move

The partnership between Taiwan and Malaysia represents a strategic move to enhance economic cooperation and mutual growth. By collaborating on these events, both countries aim to leverage their respective strengths and create a more integrated market for Halal cosmetics.

The MOEA of Taiwan is committed to supporting Taiwanese small and medium enterprises (SMEs) in their efforts to enter the Malaysian market. Through this collaboration, Taiwanese businesses will gain access to valuable market insights, regulatory information, and potential business partners in Malaysia.

The business matching session, in particular, is expected to be a key driver of trade and investment between the two countries. By facilitating direct interactions between businesses, the session aims to create new opportunities for growth and expansion in the Halal cosmetics sector.

How to Participate

Businesses interested in participating in the forum and business matching session can find more information and registration details on the official websites of the Ministry of Economic Affairs and SME Corporation Malaysia. The events are open to a wide range of industry players, including manufacturers, distributors, and technology providers.

For further assistance or inquiries, interested parties can reach out to the event organizers through their respective contact points. This is a valuable opportunity for businesses to engage with key stakeholders, gain insights into the Halal cosmetics market, and explore potential collaborations.

The upcoming online events hosted by Taiwan and Malaysia mark a significant step in advancing the Halal cosmetics market. By bringing together industry experts, business leaders, and potential partners, these events are set to foster collaboration and drive growth in this dynamic sector.

As the demand for Halal-certified beauty products continues to rise, Taiwanese businesses have a unique opportunity to tap into the Malaysian market and benefit from the growing consumer preference for Halal products. The Taiwan-Malaysia partnership exemplifies the power of international collaboration in creating new opportunities and driving innovation in the global beauty industry.

Don’t miss the chance to be part of these pivotal events and take advantage of the opportunities they present. Join the conversation, connect with industry leaders, and explore the potential of the Halal cosmetics market through these exciting online events.