Malaysian business figure urges to boost Kuwait ties
Kuwaiti firms asked to take part in MIHAS show
KUALA LUMPUR, March 31, (KUNA): A leading Malaysian business figure has urged counterparts in Kuwait to establish joint enterprises in south-east Asia and the Middle East.
Chief Executive Officer of Malaysia External Trade Development Corporation (Matrade) Dato’ Dzulkifli Mahmud made the call in remarks to KUNA on sidelines of the 13th Malaysian International Halal Showcase (MIHAS) 2016 that kicked off, on Wednesday, in Kuala Lumpur.
“Through Kuwaiti and Malaysian expertise we could conduct a joint work in the fields of trade, investments and industry,” Dzulkifli said, indicating that his country aspires to boost commercial and investment cooperation with Kuwait to best serve the interest for both nations.
Kuwait cherishes remarkable capabilities in the field of logistical services, he affirmed. And, there are substantial investment and commercial potentials available in Malaysia, he said, also noting the country’s open policy in the fields of hotels, investments, tourism and industry.
“Good and developed” is how he described the commercial bilateral ties between Kuwait and Malaysia.
He expressed hope that the bilateral cooperation be boosted and developed, especially in the fields of goods, consumption materials related to halal industry and petrochemical products.
He called on the Kuwaiti companies to take part in MIHAS’ next session of 2016, which is considered a platform for the GCC countries and Middle East, to promote their products through Malaysia, which is a trade market for east Asian countries and (ASEAN) nations.
Matrade was established in March 1993 as an external trade promotion arm of Malaysia’s Ministry of International Trade and Industry. It specializes in promoting Malaysia’s exports to the world and is represented worldwide at 409 locations in major commercial cities.
Booming
Mahmud said Wednesday the Halal industry is booming in non-Muslim countries that have Muslim minorities.
Halal refers mainly to meat permissible for consumption under Sharia (Islamic law).
This industry found promising growth opportunities in countries such as Japan, South Korea, Australia, New Zealand and Brazil which have strong markets, he said in his inaugural speech to the 13th Malaysian International Halal Showcase (MIHAS-2016).
The fair, themed “Experience Halal,” is being organized by the Malaysia External Trade Development Corporation (Matrade) at the Kuala Lumpur Convention Centre (KLCC) between March 30 and April 2 as part of the World Halal Week.
The world’s trade volume of the Halal industry amounts to 8.4 trillion Malaysian ringgits (nearly $2.14 trillion) of which the Halal food products represent MYR 2.5 trillion or $637 billion, the minister said.
This industry has a bright outlook given the growing number of Muslims who are expected to account for 27 percent of the world’s population in 2030, he went on.
Regarding the Malaysian investments in this sector, he said these investments grew from MYR 4.1 billion (about $1.04 billion) in 2012 to MYR 10.6 billion (some $2.70 billion) in 2015.
The number of licensed Halal producers went up from 2,337 in 2011 to 5,726 companies in 2015, Mahmud said.
The value of Malaysia Halal exports skyrocketed from MYR 24 billion ($6. 11 billion) in 2011 to MYR 49 billion ($12.48 billion) last year, the minister noted, adding that the main destinations of his country’s exports were China, Singapore, the United States, Indonesia, Japan and Thailand.
In press statements to KUNA following the opening ceremony, Mahmud said the annual event is part of his ministry’s efforts to promote the popularity of Halal products which is growing even among non-Muslims.
“As Muslims, we are required, pursuant to the teachings of the Holy Quran, to make the concept of Halal globally appealing,” he added.
MIHAS-2016 brought together representatives of 167 companies from 70 Muslim and non-Muslim countries, including 24 companies from South Africa which, alongside with Romania and Bulgaria, takes part in the annual event for the first time.