MATRADE Chairman, Datuk Seri Reezal Merican Naina Merican officiated the Malaysia Pavilion at the 29th edition of Gulfood 2024, showcasing the collective strength of 80 Malaysian companies and 5 government agencies. The inauguration marks Malaysia’s 20th consecutive participation in the prestigious event, reflecting MATRADE’s commitment to fostering Malaysia’s enterprises and expanding its global footprints, particularly in the Middle East and North Africa (MENA) region.
The timing of Malaysian companies’ participation at Gulfood is opportune, given the event’s significance as a major avenue for F&B industry players to explore expansion opportunities and connect with new buyers. With the F&B sector representing a substantial percentage of global manufacturing output, the demand for F&B goods in the UAE and Middle East markets is growing rapidly, with approximately USD24 billion worth of products being imported. The UAE imports 85% of the food it consumes and within ASEAN, Malaysia is ranked second as major import source for UAE. This presents a great opportunity for Malaysia to tap into this market and expand its export of food products to the UAE and surrounding markets.
By utilising Malaysia’s strengths in the F&B sectors, numerous significant opportunities can be expected due to the exceptional quality of Malaysian products. This places Malaysian halal-certified suppliers in a leading position, as their reputation is strengthened by their commitment to strict global industry standards and requirements. Malaysian halal F&B manufacturers prioritise compliance with internationally recognised standards, ensuring that their products meet the highest quality benchmarks.
Additionally, during his speech, Reezal said Malaysia has great achievement, with exports surpassing RM1 trillion for three consecutive years, reaching RM1.426 trillion in 2023 in trade value.
This achievement highlighted Malaysia’s competence in international trade, and its significant trade surplus, amounting to RM214.1 billion in 2023. Reezal expressed confidence and optimism regarding Malaysia’s economic trajectory for 2024.
He added that based on a positive economic forecast, there is a high possibility that Malaysia’s exports will soar to another trillion figures by the end of this year, propelling the nation to new historical heights in its trade performance.
