Shanghai: Malaysia is setting a higher sales target of RM3 billion for the Malaysia International Halal Showcase (MIHAS)@Shanghai, as announced by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. He noted that this new target surpasses the earlier projection of RM2.5 billion, driven by strong confidence from premium buyers and exhibitors in Malaysia’s halal ecosystem.

According to BERNAMA News Agency, Ahmad Zahid highlighted that the involvement of 20 premium buyers, who are significant purchasers of Malaysian products, is expected to push sales beyond RM3 billion. He expressed confidence in achieving this goal with the committed efforts of the Malaysia External Trade Development Corporation (MATRADE).

The Deputy Prime Minister made these remarks during the launch of MIHAS@Shanghai, which is held in conjunction with the China International Import Expo (CIIE). The event was attended by several dignitaries including MATRADE chairman Datuk Seri Reezal Merican Naina Merican, MATRADE chief executive officer Datuk Seri Mohd Mustafa Abdul Aziz, and other key officials.

Ahmad Zahid emphasized Malaysia’s growing role as a trusted partner in halal trade and innovation, underscoring the country’s leadership in the global halal industry through platforms such as the International Sourcing Programme. He also pointed out Malaysia’s intention to expand beyond food and beverage products, highlighting innovations in fields such as electronics and advanced technology.

In his speech, Ahmad Zahid also discussed Malaysia’s strengths in green financial instruments like Islamic-based banking and insurance, which are gaining interest in markets including China, Europe, and North America. He mentioned that Malaysia’s pioneering role in Islamic finance has positioned Hong Kong as a regional hub for sukuk.

Furthermore, Ahmad Zahid announced plans to elevate the Halal Development Corporation to the Halal Development Commission, aiming to enhance the governance and development of the halal industry. This announcement aligns with Malaysia’s ongoing efforts to promote halal products and services while fostering economic and cultural ties with China and East Asia.

MIHAS@Shanghai represents a significant milestone, providing Malaysian companies, particularly SMEs, with strategic opportunities to access high-quality consumer markets in China and East Asia. Ahmad Zahid noted that Shanghai’s role as a gateway to innovation and global trade offers Malaysian businesses a distinct advantage.

The Deputy Prime Minister is currently on a four-day working visit to Shanghai at the invitation of the Chinese Government to participate in the China International Import Expo.