Dubai, 19th Nov 2024,
The inaugural Mihas@Dubai hit an impressive RM500 million in export sales on its first day, marking a significant step in expanding the presence of Malaysian businesses in the Middle East and North Africa (MENA).
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said he was confident that Mihas@Dubai will achieve the RM1 billion target and beyond.
“The export sales would reach up to RM1.2 billion on Wednesday, the last day of Mihas@Dubai.
“The figures so far today marks a significant milestone for Malaysia in its bid to a globalise the industry and be a key player,” he said after visiting the booth of 215 Malaysian companies at the Dubai World Trade Centre.
Mihas@Dubai, which started on Monday, is being held alongside the Middle East Organic and Natural Product Expo. Mihas stands for Malaysia International Halal Showcase.
Zahid said Mihas@Dubai has heightened Malaysia’s halal ecosystem by providing a platform for the Malaysian companies to showcase the excellence and diversity of halal products and services.
“The expo opens a new chapter for Malaysian businesses to penetrate the MENA market of 490 million consumers and reflects the importance of Halal Diplomacy, which continues to position Malaysia as a key trade partner in the international halal market.
“Moreover, Malaysia’s trade relations with the Gulf Cooperation Council (GCC) countries remain strong, reflecting the growing economic cooperation between both regions,” he said.
In the first ten months of this year, Malaysia’s trade with GCC countries grew by 1.8 per cent reaching RM87.30 billion, compared to the same period last year, he said.
“Exports increased by seven per cent to RM21.77 billion, driven by strong demand for petroleum products, metals, and jewellery, while imports rose by 0.2 per cent to RM65.53 billion,” he said.
He said among the GCC countries, the United Arab Emirates (UAE) played a key role by contributing 42.1 per cent to Malaysia’s total trade with the GCC. From January to October this year, trade with the UAE saw a significant increase of 12.8 per cent, reaching RM36.73 billion.
Zahid said the UAE remains Malaysia’s largest export destination in the GCC, accounting for 55.3 per cent or RM12.03 billion of total exports.
“This was driven by high demand for jewellery, petroleum products, processed food as well as palm oil and oil-based agricultural products.
“Malaysia’s imports from the UAE also showed strong growth, rising 17.5 per cent to RM24.70 billion with key imports including metals, jewellery and chemicals.
“This achievement underscores the UAE’s important role as a strategic trading partner for Malaysia and highlights the significance of hosting Mihas@Dubai as a catalyst to strengthen bilateral relations and foster mutual growth.”
He said Dubai’s position as a global trade hub provides Malaysia’s business ecosystem with access to the broader GCC and MENA markets.
“I believe the success of Mihas@Dubai is a tangible testament to Malaysia’s unwavering commitment to creating an inclusive, innovative and resilient global halal ecosystem.
“The expo not only strengthens international trade relations but also lays a solid foundation for long-term strategic cooperation that can support sustainable economic growth.
“Looking ahead, I am confident that Malaysia, through the diligent efforts of agencies like the Malaysia External Trade Development Corporation will continue to seize opportunities like Mihas to solidify the country’s position in the global halal market.
“This includes ensuring sustainable economic growth, creating more high quality job opportunities, and driving balanced and inclusive prosperity for businesses, communities, and future generations.”
Source: New Straits Times
Full Article: https://www.nst.com.my/news/nation/2024/11/1136754/mihasdubai-open-doors-middle-east-north-africa-market
