MIHAS 2014 announces Saudi Arabia is largest overseas contingent

The Malaysia International Halal Showcase (MIHAS 2014) has announced that 43 companies from Saudi Arabia have confirmed their participation at the 11^th MIHAS event, running from 9 to 12 April 2014 at Kuala Lumpur Convention Centre (KLCC), making it the largest foreign contingent.  

 

MIHAS 2014 has partnered for the first time with Saudi Arabia through the Saudi Export Development Authority (SEDA) to further strengthen the relationship between both countries and help create more opportunities for both countries to collaborate and tap into the halal market demand within the Gulf Cooperation Council (GCC). By connecting Saudi halal food producers and global distributors via MIHAS 2014, SEDA not only hopes to further Saudi food exports, but also seeks to ensure the dissemination of quality halal foods made in the Kingdom.

 

The volume of imported foods is steadily increasing in the Kingdom, where the population is expected to double by 2023, and per capita food consumption is projected to expand by 31% this year. The number of exporters of halal products and services from Saudi Arabia has also been growing with an eye to gaining market share in the estimated US$2.3 trillion market.

While the oil & gas industry remains the dominant driver for Saudi’s exports, a number of additional key strategic sectors have witnessed considerable growth and development. As a subsector of manufacturing, the food processing industry has significantly contributed to the overall growth in exports sector. 

 

Since 1995, Saudi Arabian food exports have witnessed an average annual growth rate of 15%, and the overall value of food products exported from Saudi Arabia have reached more than SAR13 billion. Moreover, the number of food processing factories have reached around 1,000. These facilities produce a wide range of food products that include dairy, meats, dates, honey, and confectionery.

MIHAS 2014 will also see  participation from Thailand (36 companies), Indonesia (30 companies), and Iran (21 companies) this year.
 

MIHAS 2014 is projecting some RM500 million in sales from about RM411 million sales received last year attributed to a better outlook in global economy, a higher demand for halal products and services and more number of booths available this year.

MIHAS is organised by Malaysia External Trade Development Corporation (MATRADE) under the banner of World Halal Week, Kuala Lumpur. The World Halal Week 2014 will be held at the Kuala Lumpur Convention Centre in Kuala Lumpur, Malaysia from 9 to 12 April 2014.