KUALA LUMPUR: Business deals worth more than RM1 billion are expected to be generated in the next few days at the 5th Malaysian International Halal Showcase (Mihas), to be launched by the prime minister today.

The incoming business mission, or IBM, a side event of Mihas 2008, is expected to generate these deals.

Dzulkifli Mahmud, director of the Malaysian External Trade Development Corporation (Matrade) international network and trade promotion division (West Asia and Africa), said IBM will see 607 Malaysian companies conducting 5,348 business meetings with 433 foreign companies.

"Last year, in just two days, we secured a total of RM600 million worth of business deals.

"This year, since the duration of the exhibition is five days, we have projected deals worth more than RM1 billion. In the last two days alone, we have signed deals worth RM750 million," he said yesterday.
Dzulkifli said the bulk of the deals were for halal food and beverages, followed by electrical items and Malaysian-made furniture.

"This business matching event has been a side event of Mihas for the last four years. It has been tremendously successful in helping local companies expand their products and businesses abroad.

"We have organised more than 5,000 meetings between local and foreign representatives. What they do is come here, sit down and discuss business."

He said Malaysian halal foods were the most sought-after products by foreign companies who felt that Malaysian products were competitively priced and of high quality.

Another side event that is also set to bring in more business for the local halal industry is a business meeting involving 10 Organisation of the Islamic Conference (OIC) countries.

"We have 10 English-speaking OIC member countries who are down here to do business with Malaysian companies.

Among them are Turkey, Albania, Pakistan, Indonesia, Bangladesh, Kyrgyz Republic and the Maldives.

"The aim of the meeting is to enhance trade promotions among OIC member countries.

The meeting is an initiative of the Islamic Trade Finance Corporation and the Islamic Bank in Jeddah," added Dzulkifli.

Meanwhile, Mihas chief executive Mohd Shukri Abdullah said Malaysia is known the world over for its premium halal products.

"When people use our halal products, they have no doubts about them and are certain that they are 100 per cent halal, " he said, adding that globally, the halal industry is worth around US$2.1 trillion (RM6.72 trillion).

Shukri added that the Mihas halal showcase in Malaysia is widely regarded as the best halal showcase in the world.

Mihas 2008 opened yesterday and will go on until May 11 at the Matrade Exhibition and Convention Centre. It has participation from 24 countries, with more than 622 booths showcasing a variety of halal products.