INSP MIHAS 2018 Achives Impressive Sales Figures

THURSDAY, 5 APRIL 2018, KUALA LUMPUR: The International National Sourcing Programme (INSP), organised by Malaysia External Trade Development Corporation (MATRADE) continues to grow as one of the most significant business-to-business trade matching programmes in the country.

According to the Minister of International Trade and Industry (MITI), Dato' Sri Mustapa bin Mohamed the INSP for MIHAS 2018 resulted in generating sales of RM602.5 million. ‘This is a surge of almost 100% compared to the INSP results of 2017,’ he stressed. The INSP was organised in conjunction to the 15th Malaysia International Halal Showcase (MIHAS) 2018, which is being held from 4-7 April 2017 at the Malaysian International Trade and Exhibition Centre (MITEC).

Food products remained as the major contributors accounting for 76.7% or RM462.27 million, followed by non-food products (21%; RM126.4 million) and services (2.3%; RM13.5 million). For food products, sales were mainly from prepared food (confectionery, snacks & frozen food), agricultural produce (fruits & nuts), palm oil products (cooking oil & refined palm oil) and beverages. Meanwhile for non-food products, pharmaceutical, toiletries & cosmetics made up the largest composition followed by packaging & containers, machinery & equipment and building materials & hardware. Services were contributed by franchise, distribution & logistics as well as entertainment (games & creative industry).

In terms of sales composition by markets, more than half of the sales were contributed by China with 51.5% share or RM310.5 million, followed by India (12.6%; RM75.6 million), Poland (11.8%; RM71.3 million), Thailand (3.6%; RM21.7 million), USA (3.3%; RM20.1 million) and others.

The Minister noted that the strong results is a reflection of the dedication by MATRADE in identifying the right buyers. MATRADE’s 47 global offices had identified 182 buyers from 39 countries. The number of buyers are 10 % higher compared to previous year. "In total MATRADE organised 2,094 one-on-one business meetings during the one-day event," the Minister disclosed.

Dato' Sri Mustapa bin Mohamed informed that Malaysian SMEs have especially benefited from this programme. A total of 428 Malaysian exporters secured sales during the INSP, of which over 80% were SMEs. According to him, the need for cost-effective business matching platforms such as INSP is critical to ensure the Malaysian SMEs are able to accelerate their growth cycle and become strong exporter in the quickest possible time.

Similar growth is also evident in MIHAS 2018 trade fair. The 15th edition of MIHAS has recorded growth in terms of number of exhibition space and exhibitors. According to Dato' Sri Mustapa bin Mohamed, the total exhibitor space has expanded by 69.8% (2018: 20,900 sqm) and number of exhibitors by 43.9% (2018: 760).

“The increase is a testimony of the growing importance of MIHAS to the global halal economy. The organising of MIHAS is an indication of the Government's vision in developing the halal sector in a commercially viable manner to ensure the Malaysian halal ecosystem grows and benefits Malaysian suppliers,' he said.

The Minister also indicated that MIHAS 2018 has introduced new programme segments for both exhibitors and visitors are able to not only secure potential business deals but also market
intelligence. This is part of the plan for MIHAS to evolve to become a one-stop centre on all matters relating to commercial intelligence and trade for the halal economy.

Apart from exhibition and INSP, other segments of MIHAS include MATRADE Trade Talk, MyPitch@MIHAS, Symposium on Halal Gelatin Ecosystem, Halal Trade Finance Conference, IMHalal Conference, Halal in Travel Conference, Industry Zone, MIHAS Breakfast Coffee as well as MIHAS Connect.

Updated by Corporate Communication Unit

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