KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) aims to attract at least 250 international buyers for the International Sourcing Programme (INSP) at the Malaysia International Halal Showcase (MIHAS) 2024.
MATRADE chief executive officer Datuk Mohd Mustafa Abdul Aziz said the 250 international buyers, including 20 premium buyers from 40 countries, are expected to generate a potential sourcing value of more than RM1 billion.
“Our global network of 49 trade offices has successfully secured the participation of leading international buyers, underscoring the event’s growing prominence in the global Halal marketplace,“ he said in a statement on Monday.
The INSP is MATRADE’s flagship business matching event organised annually in conjunction with MIHAS 2024.
According to MATRADE, the physical sessions of INSP MIHAS 2024 will be held on Sept 18, 2024, at Menara MATRADE in conjunction with MIHAS 2024 which will be held from Sept 17 to 20, 2024 at the Malaysia International Trade Exhibition Centre (MITEC).
Overall, INSP MIHAS 2024 is organised in a hybrid mode, with the virtual sessions taking place from Feb 15 to Nov 30, 2024, it said.
On the 250 international buyers, Mohd Mustafa said that include those from Europe, South Asia, China and Northeast Asia, Central Asia and the Americas, while the 20 premium buyers represent industry giants such as large hypermarkets and retailers with nationwide outlets from the United States (US), India, the United Kingdom, Taiwan, Hong Kong, Kazakhstan, and Uzbekistan.
“These buyers collectively generated revenue of more than US$60 billion (US$1=RM4.42) in 2023,“ he said, adding that the potential RM1 billion business deals, if secured, will have a significant impact on the domestic economy, such as supporting the exporters in terms of creating job opportunities.
Mohd Mustafa said INSP MIHAS 2024 is set to facilitate at least 2,500 business matching sessions, fostering new partnerships and expanding market access for Malaysian businesses.
“The programme is instrumental in strengthening international trade relations, expanding market access for Malaysian businesses and contributing to the development of sustainable global supply chains.
“It represents a critical component in our efforts to position Malaysia as a key player in the international Halal ecosystem,“ he added.
INSP MIHAS 2024’s programme will highlight Malaysia’s expertise across 20 diverse sectors, such as agricultural produce, palm oil products, Islamic financial services, as well as prepared food and beverages.
The 2023 edition of INSP recorded sales of RM1.31 billion from foreign buyers across 44 countries, while the hybrid format, combining virtual eBizMatch sessions with a physical event, proved highly effective in connecting Malaysian sellers with international buyers.
The virtual INSP organised in 2023 witnessed the participation of 344 Malaysian sellers and 270 foreign buyers from 44 countries, while the physical event attracted 469 Malaysian sellers and 231 foreign buyers including 11 premium buyers.
Registration for participation in INSP 2024, both virtually and physically, can be completed through https://mihas.com.my/international_sourcing_programme.php Participants can also seek assistance from INSP MIHAS Secretariat via [email protected]
For further details on MIHAS 2024, please visit: https://mihas.com.my/
