18 Saudi Firms Keen to Explore Malaysian Halal Market

KUALA LUMPUR  (NNN-Bernama) -- Some 18 Saudi Arabian exhibitors participating in the Malaysian International Halal Showcase 2014 (Mihas 2014) are keen to enter the Malaysian market, said Saudi Export Development Authority (Seda) Marketing and Public Relation Director, Feras Abal Khail.

Feras, who is also Seda's spokesperson in Malaysia, said 18 out of the total of 20 food and beverage (F&B) firms taking part in Mihas 2014 see Malaysia as a potential market due to the Muslim population in the country, as well as the Indonesian halal market.

Two F&B companies are already exporting their products to Malaysia, he said.

"Due to huge Muslim population here and in neighbouring Indonesia, we see some potential for us to offer our high quality products and strengthen our presence in the market," Feras told reporters at Mihas 2014 Friday.

The 11th Mihas is held at the Kuala Lumpur Convention Centre here from April 9-12, 2014.

Feras said by understanding the Malaysian market, it would allow the Saudi Arabian companies to understand the market in the neighbouring countries as well as the Asian market.

He also said Seda is looking forward to increase the participation of Saudi Arabian companies in the exhibition next year.

"We are exploring the market this year, and our pavilion consists of 43 booths. For next year, we might increase the number of booths," he added.

"Mihas is a strong pillar in the F&B sector, and I can say that we will definitely be here again," Feras said, adding that Seda might bring more halal products such as cosmetics next year.

Joining Mihas for the first time this year, the Saudi Arabian companies perceived the exhibition as a platform for them to outline strategy, understand the Malaysian consumers' behaviour and to build a network of distributors before entering the market.

Mihas 2014 has partnered with Saudi Arabia, through Seda, to further strengthen their relationship and to create more opportunities for both countries to collaborate and tap into the huge halal market within the Gulf Cooperation Council.

The global halal market has been growing consistently over the last decade as an increasing number of discerning customers seek halal products and services in their everyday life.

Saudi Arabia's per capita food consumption is projected to expand by 31.24 per cent this year, reflected by the emergence of a network of hypermarkets in the kingdom where the number of imported goods is steadily rising.

The number of Saudi Arabian exporters of halal products and services has also been growing and they are ready to gain market share in the estimated US$2.3 trillion market.--NNN-BERNAMA