International buyers exploring halal industries in Malaysia

KULA LUMPUR (AA) – Malaysia is hosting one of the world’s largest halal products exhibitions and buyers are exploring opportunities to import products from the Southeast Asian nation.

MIHAS began Wednesday at the Malaysia International Trade and Exhibition Centre and is poised to be a networking powerhouse for international and local businesses.

Considered one of the most prominent and longest-running halal trade events in the world, MIHAS is expected to achieve $423 million in trade during the three-day event.

The expo, organized by the Malaysian External Trade Development Corporation (MATRADE), draws participants from local and international buyers, entrepreneurs, retailers, brands, media, researchers and industry influencers.

It has attracted nearly 400 companies from across the globe through conventional and virtual exhibition formats.

This year, it features 13 clusters including food, pharmaceuticals, e-commerce, media and recreation, Islamic finance, modest fashion, personal care and cosmetics, Muslim-friendly tourism and Islamic arts and culture,

Qatar, Türkiye, Saudi Arabia, US and India have been premium buyers at the INSP, while Malaysia and Singapore are top sellers. Bhutan, Vietnam, and Thailand are top buyers.

The halal industry is one of the fasted-growing markets in the world as products and services in the sector gain momentum among non-Muslim consumers worldwide.

Global indicators for the Islamic economy predict that the worldwide halal market will grow from $2.09 trillion last year to almost $3.27 trillion by 2028.