Amr Yehia, from Kuala Lumpur

Global halal economy valued at $3.5 trillion, projected to near $10 trillion by 2030: Global Islamic Economy Indicator

On the opening day of the 22nd Malaysia International Halal Showcase (MIHAS 2026), held in Kuala Lumpur from September 23 to 26, the world’s largest halal trade fair — organised by the Malaysia External Trade Development Corporation (MATRADE) under the auspices of the Ministry of Investment, Trade and Industry (MITI) — is placing a special focus on the Middle East and Africa, while targeting sales exceeding RM5 billion.

In a statement to Atlas News Romania, YB Dato’ Seri Reezal Merican Naina Merican, Chairman of the Malaysia External Trade Development Corporation (MATRADE), said that the Egyptian-Malaysian partnership is expanding, describing Egypt as a strategic partner with significant potential for further cooperation and as a possible future host of the exhibition.

Reezal Merican thanked the Egyptian companies participating in MIHAS 2026, noting that an export acceleration mission was sent to Egypt in 2024.

He added that Egypt is one of the major markets for accessing the Middle East and North Africa region, highlighting Malaysia’s presence on the ground in Egypt and the unique geographical advantages of both countries.

Reezal Merican affirmed that MATRADE has an office in Cairo, adding that the Suez Canal connects East and West, making Egypt a strategic location and a country to be reckoned with.

The Chairman of MATRADE acknowledged the current challenges in the region, including geopolitical conflicts in West Asia and disruptions at two vital choke points, Bab al-Mandab and the Strait of Hormuz.

He said: „Despite some challenges. Challenges of West Asia, the geopolitical conflict, although it is near Iran at almost a choke point, and we also do not forget the Red Sea, especially at Bab al-Mandab, these are other choke points, there has been a great deal of disruption in the maritime route in that area, but at the moment we are witnessing exponential growth in terms of trade between the two countries, and also for exports from Malaysia to Egypt. And we hope it will progress successfully in the coming years.”

When asked about potential Malaysian investments in the Suez Canal industrial zone and whether MATRADE has promising plans there, he linked the issue to the global expansion strategy of the MIHAS exhibition itself.

Reezal Merican revealed that there have been many requests to hold MIHAS outside Kuala Lumpur, a strategy he initiated during his tenure.

He explained: „Cairo may also be a suggested location, Cairo is a gateway to Africa, the next stop was Shanghai, and I will not rule out Cairo, Egypt is a large economic gateway through which we can also cover the African continent.”

He continued: „There have been a lot of requests asking us to hold MIHAS outside Kuala Lumpur. We have done it twice, I brought MIHAS to Dubai. In conjunction with the Middle East Natural and Organic Expo, because Dubai is located right in the middle of the Middle East, and if you go to Dubai, it is just one flight away from any major city. And Dubai is known for hosting very prestigious expos.”

He said: „We moved the exhibition to be closer to buyers who find it difficult to travel to Malaysia, from Chile and South America for example, citing the proverb ‘If you cannot bring the mountain to Muhammad, bring Muhammad to the mountain’.”

He stressed Africa’s transformation into a major market, noting that the continent’s population has grown from 900 million to 1.4 billion people across 54 countries, and that democratic transformation has made it more vibrant and promising.

On how African countries can benefit from the halal economy, Reezal Merican stressed that halal is much bigger than just food and beverages: „Currently we are exploring less than 1% of the halal economy, it is expanding and now stands at 3.5 trillion US dollars according to the Global Islamic Economy Indicator, and it is rising sharply. It is expected to reach nearly 10 trillion by 2030.”

Reezal Merican affirmed that halal trade is not a religious ritual but is also about traceability and sustainability, saying: „Halal does not really refer to a religious ritual of Islam as a religion. Halal represents cleanliness, halal represents health, halal represents authenticity, halal also represents traceability, halal also represents what we call sustainability, so if you choose a halal product, you are actually choosing a safe product.”

He gave the example of New Zealand, a non-Muslim-majority country where, he said, about 70% of slaughterhouses are halal-compliant because the country is one of the world’s largest livestock producers and a significant share of global consumers are Muslims.

Regarding the MIHAS exhibition itself, Reezal Merican pointed to its scale and explained the traditional working mechanism before the introduction of artificial intelligence: everything was done physically. MATRADE has 47 offices around the world, making it the second-largest Malaysian government network operating on foreign soil. With AI, requests are now pre-screened, carefully processed and matched so that, when participants arrive at the exhibition, the chances of a mismatch are almost zero.

He added: „Everyone who comes here can download MIHAS AI, because they may not be able to cover everything, they can tell the system their desires, they will be accompanied by agents. They call it agentic AI, an agent for you, so they will say their desires, for example, I want palm oil. I want palm derivatives, I want cooking oil, so your AI will intelligently connect with the exhibitors’ AI and other AIs, whoever the sellers are.”

He added that the AI platform will be available 365 days a year for virtual communication, 24 hours a day, with translation into eight languages, including English, Malay, Indonesian, Russian, French, Spanish and Mandarin Chinese, and that it uses „Salam AI” for translation. He also said he had requested the addition of African languages such as Wolof, Swahili, Yoruba and Hausa.

Regarding halal certificates, he stressed that Malaysia’s JAKIM halal standard is considered the gold standard, with a comprehensive process covering ingredients, packaging and logistics to avoid cross-contamination, and that JAKIM now cooperates with 94 certifying bodies.

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