The Bank brings over 11 companies to Dubai to facilitate bilateral trade and investment opportunities in the Halal global marketplace

Dubai, UAE, 18 November 2024 – The Export-Import Bank of Malaysia (EXIM Bank), in partnership with the Malaysia External Trade Development Corporation (MATRADE), is proud to announce its sponsorship and active participation in the inaugural Malaysia International Halal Showcase (MIHAS) Dubai 2024. Following the recent success of MIHAS Kuala Lumpur, EXIM Bank is again at the forefront, promoting Malaysia’s Halal industry and driving international market access for Malaysian exporters.

As one of the main sponsors, EXIM Bank is leading a delegation of 11 Malaysian Halal exporters to explore lucrative opportunities within the Middle East market, and more specifically UAE market. To enhance bilateral trade relations and reinforce Malaysia’s presence in the region, EXIM Bank has also organised a high-level networking dinner with the Malaysian Ambassador to Dubai and senior officials from MATRADE, further strengthening ties and expanding business prospects for Malaysian exporters.

“EXIM Bank is honoured to drive the expansion of Malaysia’s halal industry by empowering local companies to seize global opportunities. Our sponsorship of MIHAS Dubai, coupled with curated engagements for participants, underscores our unwavering dedication to elevating Malaysian businesses onto the international stage. This initiative reflects our commitment to advancing the nation’s halal economy, which currently stands at RM54 billion for 2023 halal exports value, promoting innovation, and strengthening Malaysia’s position as a global leader in the industry,” stated Nurbayu Kasim Chang, Acting President and Chief Executive Officer of EXIM Bank Malaysia.

According to MATRADE, while the global Halal industry is valued at over USD3 trillion annually, Malaysia’s total trade with the Middle East and North Africa (MENA) region in 2023 exceeded RM22 billion, with Halal products comprising a significant share of the demand. The MENA region’s Halal market, valued at over USD200 billion, presents a golden opportunity for Malaysian exporters to tap into a growing sector driven by the region’s increasing appetite for high-quality Halal-certified products. In fact, the strategic economic partnership between Malaysia and the United Arab Emirates continues to flourish, where the UAE has emerged as a powerhouse partner for Malaysia’s international trade. It has secured Malaysia’s second-most important trading ally in the Arab region, commanding an impressive 32% share of the country’s Arab world trade portfolio. This robust relationship is reciprocal, with Malaysia proudly standing as UAE’s 12^th largest Asian trading partner. The year 2023 witnessed remarkable growth in the country’s bilateral trade relations, reaching US$8.67 billion (RM39.63 billion) – a notable 5.4% increase from the previous year, solidifying UAE’s position as Malaysia’s second-largest trading partner in the West Asia region.

With demand spanning across food and beverages, cosmetics, pharmaceuticals, logistics, and financial services, coupled with Malaysia’s well-established Halal ecosystem, supported by globally recognised Halal certifications and standards, all these position local exporters to capitalise on this thriving sector. These figures underscore Malaysia’s potential to become a leading hub for Halal trade and innovation, driving sustained growth for local exporters.

MIHAS Dubai marks the first time this esteemed Malaysian brand has been brought to an international stage. This initiative aligns with MATRADE’s objective to globalise MIHAS and fortify Malaysia’s position within the Halal market. Held from 18 to 20 November 2024 at the Dubai World Trade Centre in conjunction with the Middle East Organic and Natural Product Expo, MIHAS Dubai offers an ideal platform for Malaysian exporters to showcase their products.

This collaboration is also strengthened by the exchange of a Memorandum of Understanding (MOU) document between EXIM Bank and MATRADE, highlighting both parties’ commitment to mutual cooperation in global trade. The MOU underscores a shared mission to develop and promote trade based on the principles of equality and mutual benefit. It also aims to bolster the presence of Malaysian products and services in international markets through strategic trade promotions, capacity-building activities, and enhanced market access, giving Malaysian businesses a competitive edge on the global stage.

This event aligns closely with EXIM Bank’s Malaysia Global Connect (MGC) programme, which is dedicated to supporting Malaysian businesses as they explore international markets. The MGC programme promotes the “Buy Malaysian, Support Local Businesses Abroad” initiative, which encourages local products on the global stage and strengthens Malaysia’s international market footprint.

Building on the momentum of MIHAS Kuala Lumpur, MIHAS Dubai provides Malaysian exporters with a unique opportunity to showcase innovative Halal products, connect with international stakeholders, and gain critical insights into market trends and regulatory landscapes in the Middle East. EXIM Bank continues to strengthen Malaysia’s global Halal footprint, reinforcing its role as a vital enabler in Malaysia’s trade and economic development.

With the RM750 million under the Exporter Sustainability Incentive Scheme or “Skim Insentif Pemampanan Pengeksport” (SIP2) scheme, EXIM Bank will continue to offer financing up to RM20 million per exporter, with an incentivised financing rate of up to 1%, for a tenure of up to 7 years. To date, EXIM Bank has successfully offered RM290 million under SIP2 to support over 37 Malaysian companies, enabling them to strengthen their export capabilities. The Bank remains committed to driving the sustainable, long-term growth of Malaysian exporters through tailored financial solutions and advisory services, ensuring that local businesses have the tools they need to thrive in international markets.

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About EXIM Bank of Malaysia Berhad

The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly-owned by the Government of Malaysia. The Bank has assisted a diverse range of Malaysian business in various sectors in their global ventures.  EXIM Bank takes pride in meeting its mandated role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. The Bank also offers Shariah-compliant financing and Takaful instruments. For more information, visit www.exim.com.my.