Business Reporter
SEVERAL local firms drawn from horticulture, processed foods, honey, cosmetics and leather, among other areas, are set to participate at the 20th Malaysia International Halal Showcase (MIHAS), scheduled for September 17-20, 2024 at the Malaysia International Trade and Exhibition Centre.
MIHAS, organised by the Malaysia External Trade Development Corporation, offers a platform for trade connections, knowledge sharing and exploration of the latest trends in the halal industry.
It presents a valuable platform for Zimbabwean companies to showcase their products, network with potential buyers and explore business partnerships. Additionally, it offers insights into the growing halal market and the opportunities it presents for businesses.
National trade development and promotion body ZimTrade, which is facilitating the participation of local firms at MIHAS, believes there is potential to tap into the halal market, which is projected to reach US$3 trillion by 2027. This is being driven by the growing Muslim population and the increasing demand for halal products and services.
Speaking ahead of MIHAS, ZimTrade chief executive officer Allan Majuru said: “The prominent global event provides an opportunity for Zimbabwean businesses to showcase their products to a diverse international audience.”
By aligning with MIHAS, ZimTrade was positioning Zimbabwean exporters to tap into this lucrative market, thereby diversifying their offerings and reducing dependency on traditional export destinations, he added.
Last year, ZimTrade facilitated the participation of local firms at MIHAS, where they exhibited their products in the honey, fresh produce and herbs categories.
According to Mr Majuru, one of the most significant benefits of participating at events such as MIHAS is the opportunity to tap into a new market, thereby diversify existing market portfolios.
Exports to Malaysia are currently very low, at less than US$20 000 annually, and participating at MIHAS can boost the numbers.
The market for honey, for instance, is huge. Malaysia imports natural honey worth more than US$13,1 million. It is the 30th largest importer of natural honey in the world.
“For participating companies, the fair will enhance their export capacity, while diversifying their market reach.
“Furthermore, the halal market represents a significant growth opportunity for Zimbabwean exporters. With a growing global Muslim population, the demand for halal-certified products is on the rise,” Mr Majuru said.
At MIHAS, Zimbabwean exporters can capitalise on the growing halal market. They can succeed by ensuring their products meet international halal standards.
The certification issued in Zimbabwe plays a crucial role in gaining access to the global halal market, particularly in the Association of Southeast Asian Nations (ASEAN) region.
The Malaysian market, renowned for its robust halal certification framework, serves as a strategic gateway to the broader Southeast Asian region, according to Mr Majuru.
“By positioning themselves at MIHAS, businesses can leverage Malaysia’s established infrastructure and regulatory environment to facilitate their entry into neighbouring markets, enhancing their competitive edge.
“As companies explore the halal sector, they unlock potential revenue streams while mitigating risks associated with market saturation in their current areas of operation,” Mr Majuru said.
ZimTrade believes participating at platforms such as MIHAS feeds into the Government’s vision of diversifying export markets and products, as stipulated in the National Export Strategy launched by President Mnangagwa in 2019.
This is also part of activities being undertaken by the Second Republic, in line with its economic diplomacy agenda.
According to the national trade development and promotion body, the fair creates an opportunity to meet and engage with potential buyers and distributors of Zimbabwean products and services.
With Malaysia importing around 90 percent of the horticultural produce consumed in the country, there is a high potential for suppliers, including locals, to tap into this demand.
By participating at MIHAS, Zimbabwean companies can not only expand their reach in Malaysia but also explore opportunities in the entire ASEAN market.
“The halal market is recognised as the fastest-growing market globally, with increasing consumer demand driven by a diverse demographic that extends beyond traditional Muslim consumers. Participating at MIHAS allows companies to gain valuable insights into emerging trends and preferences within this lucrative market, enabling them to tailor products and services to meet the evolving needs of consumers,” said Mr Majuru.
“Halal is an Arabic term that means ‘permissible’ or ‘lawful’ in Islam.
“It embodies universal values that are good and wholesome, including sustainability in health restoration, care for animals and the environment, fair trade and ethical consumerism.”
Major halal food product segments include meat, poultry and processed seafood, processed fruits and vegetables, dairy products, cereal and grains, oil and fats, and confectionery.
The growth of the halal sector is driven not only by the global Muslim population but also by factors such as added value, hygiene and authenticity.
