Malaysian companies in halal industry meet with global buyers
KUALA LUMPUR: Malaysia External Trade Development Corporation (Matrade) continues to facilitate Malaysian companies inclusion in the global supply chain through one of its high-impact global business matching efforts called International Sourcing Programme (INSP).
This time around, the INSP by the trade promotion organisation is targeting local Small and Medium Enterprises (SMEs) in the halal industry. Organised in conjunction with the 16th Malaysia International Halal Showcase (MIHAS) 2019, the one-day INSP is taking place at Menara Matrade.
The event will match more than 500 local companies with 200 foreign buyers from 43 countries. This is the 15th INSP organised for Matrade’s iconic trade fair, MIHAS. The INSP is MIHAS’ key event organised a day before the exhibition starts.
The global business matching helps local SMEs introduce their halal products or services to highpotential buyers scouted through MATRADE’s 46 global trade offices extensive buyers database.
According to Matrade’s deputy chief executive officer of Mohd Mustafa Abdul Aziz the business matching provides an opportunity for local companies to meet with high-potential foreign buyers at their own home country, saving them the travelling cost.
The sectors highlighted at the event are beyond food and beverages, which is tantamount in halal, and include emerging halal sectors such as Islamic finance, pharmaceutical, cosmetics, Muslim-friendly tourism, digital and e-commerce as well as logistics.
The local companies at the INSP come from various Malaysian states such as Selangor (45.7 per cent), Kuala Lumpur (12 per cent), Johor (8.5 per cent), Penang (6.1 per cent) and Perak (4.7 per cent).
Among the countries involved in the event are China, India, Saudi Arabia, Japan, Indonesia, Republic of Korea, Thailand, Ukraine, Jordan and Singapore, just to name a few.
In total, Matrade will be coordinating around 1,928 business meetings between the local and foreign companies.
“The INSP is a very effective platform for Malaysian companies especially the SMEs to meet with global buyers from all over the world.
“Since the inception of MIHAS, we have successfully turned this annual gathering of local sellers and foreign buyers to become an important meeting point for them to expand their business horizon in the global arena,” Mohd Mustafa said.
Last year, the INSP generated RM602.45 million of sales with food and beverages sector having contributed the largest sales. The top export destinations resulted from the INSP in 2018 were China (RM310.46 million), India (RM75.61 million), Poland (RM71.34 million), Thailand (RM21.70 million) and the United States (RM20.13 million).
MIHAS, which was incepted in 2004 with the vision of making Malaysia a global Halal marketplace, has earned a reputation as the world’s largest halal trade fair. Organised by Matrade, it is hosted by Ministry of International Trade and Industry.