Seizing opportunities in the Halal market

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Italian companies can benefit from the Malaysian experience.

Editorial by Consulate of Malaysia / Malaysia External Trade Development Corporation (MATRADE)

Viewed through a business lens, the current Halal market offers a myriad of attractive opportunities with considerable economic value on a global scale. As outlined in the analysis report titled "Global Halal Economy Growth Opportunities" by research and consulting firm Frost & Sullivan, the market for the global halal economy is forecasted to undergo significant growth, with expectations of reaching US$4.96 trillion by 2030, up from US$2.30 trillion in 2020. With traditional Halal markets, primarily in Muslim-majority countries, approaching saturation, new markets are springing up worldwide, providing lucrative commercial prospects for the sector, including in the regions like Europe.

Mr. Ravidran Manogaran, the Consul and Trade Commissioner of Malaysia in Milan, highlighted the unexplored business opportunities in Italy's Halal sector, well-positioned to serve the growing Muslim community and influx of Muslim tourists. He voiced the hope that one would perceive halal not only for its Islamic ethical values but also as a comprehensive value proposition. He emphasized that the Halal economy signifies quality assurance and is in line with sustainable development objectives. Additionally, Mr. Ravidran underscored that when looking at halal holistically, it includes aspects like hygiene, cleanliness, health safety and inclusivity, all of which hold appeal for diverse communities.

As part of the national strategy to establish Malaysia as the premier global Halal hub, Malaysia External Trade Development Corporation (MATRADE) leads the charge in promoting the internationalization of Halal products and services through the Malaysia International Halal Showcase (MIHAS), an esteemed annual event recognized worldwide as the largest Halal expo. Mr. Ravidran extends an invitation to Italian companies interested in participating in this year's MIHAS, scheduled to take place at the Malaysia International Trade and Exhibition Centre (MITEC) in Kuala Lumpur from September 17th to 20th, 2024. Attending MIHAS would serve as a valuable opportunity for Italian businesses to connect with Muslim consumers in Italy and the surrounding regions. Through collaboration with Malaysia's Halal-certified manufacturers, Italian companies can explore private label branding possibilities and delve into diverse expanding Halal sectors beyond the food, such as pharmaceuticals, Islamic finance, modest fashion, and Muslim-friendly tourism.

The Italian importers seeking Halal products/services from Malaysia are encouraged to participate in B2B business matching sessions through the International Sourcing Programme (INSP) alongside MIHAS, available in virtual, physical, and hybrid formats. Meanwhile, Italian companies interested in exporting to Malaysia are invited to exhibit their Halal products and services at MIHAS.

Interested parties can contact the Consulate of Malaysia / MATRADE in Milan for more information via telephone at +39 02 669 81839 or email at milan@matrade.gov.my. 

* Note: MATRADE is the national trade promotion agency under the Ministry of Investment, Trade, and Industry (MITI) of Malaysia, responsible for promoting export and positioning Malaysia’s companies on the international stage.

Mr. Ravidran Manogaran
Consul & Trade Commissioner
Consulate of Malaysia,
Malaysia External Trade Development Corporation (MATRADE),
Via Alberico Albricci 9
Milan, Lombardy 20122
Italy.
Tel : +39-02-669 81839 
Fax : +39-02-670 2872 
Email: milan@matrade.gov.my
Countries of Coverage: Albania, Corsica, Croatia, Cyprus, Greece, Italy, Kosovo, Malta, Montenegro, Serbia, Slovenia

Photos of MIHAS

https://www.mihas.com.my/static/img/in_the_news/news-1.jpg
https://www.mihas.com.my/static/img/in_the_news/2023/news_tremendous_response_mihas.jpg
https://www.mihas.com.my/static/img/in_the_news/2023/news_mihas_2023_records_3_billion_in_sales.jpg

International Sourcing Programme (INSP) ) in-conjunction with MIHAS

(B2B Business Matching)

https://mihas.com.my/static/img/gallery-2024/VIP06638.jpg
https://mihas.com.my/static/img/gallery-2024/INSP%20Crowd.jpg

Global Halal Summit (GHaS)

(Halal summit/conference)

https://mihas.com.my/static/img/gallery-2024/VIP08430.jpg

Knowledge Hub 

(Halal Seminar/Talks)

https://mihas.com.my/static/img/gallery-2024/IMG_4105.jpg

Fashion Show

(focused on modest fashion)

https://mihas.com.my/static/img/gallery-2024/DSC03932.jpg

Event Venue: MITEC

Address: 8 Jalan Dutamas 2, 50480 Kuala Lumpur

https://www.mihas.com.my/static/img/about_mihas/mitec-2022.jpeg

The Malaysia International Trade and Exhibition Centre (MITEC) is the country’s largest exhibition centre with 1 million square feet of gross exhibition space. The first component and flagship of KL Metropolis, a city within a city where trade, commerce, living and transport converge over 75.5 acres of prime land development, MITEC is poised to be the exhibition venue of choice in the Southeast Asia region. The 12,960 sqm of column free space on level 3 providing an unobstructed and expansive view, making it the largest pillar-less exhibition hall in Malaysia. The entire combined exhibition halls are able to accommodate up to 47,700 visitors in theatre style seating and 28,300 guests in the banquet arrangement at any one time. 

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