(MENAFN– Gulf Times) Kuala Lumpur : Knowledge exchange and the sharing of best practices between companies in Qatar and Malaysia will play a key role in the development and growth of both nations’ entrepreneurial and manufacturing sectors.
Dr Sana al-Dawaimeh, the owner of Doha-based cosmetics company Magic Touch, made the statement on Wednesday on the sidelines of this year’s International Sourcing Programme (INSP) held at the headquarters of the Malaysia External Trade Development Corporation (MATRADE) here.
The INSP is MATRADE’s flagship business matching event organised annually in conjunction with the Malaysia International Halal Showcase (MIHAS) 2024, which concluded recently.
Al-Dawaimeh told Gulf Times that Magic Touch is an enterprise that initially started off as a modest factory specialising in organic oils and natural beauty products. She actively engages in international exhibitions, seeking to explore new markets and broaden the company’s network of suppliers for various cosmetic products.
She expressed great admiration for halal products manufactured in Malaysia, saying many of the country’s cosmetics products are“perfect” for the Qatari market.
Al-Dawaimeh, who represented one of the four companies from Qatar participating in INSP MIHAS 2024, pointed out that her company was in the country once again to further explore the Malaysian halal cosmetics market and introduce more products to Qatar.
She also emphasised that combining Qatari and Malaysian expertise and best practices will contribute to her company’s plans to expand its domestic operations by manufacturing halal cosmetics products bearing the“Made in Qatar” trademark.
MATRADE CEO Mohd Mustafa Abdul Aziz said INSP MIHAS 2024 attracted at least 250 international buyers, including 20 premium buyers representing 40 countries.
“Our global network of 49 trade offices have successfully secured the participation of leading international buyers, underscoring the event’s growing prominence in the global Halal marketplace,” Aziz emphasised.
The 250 international buyers include those from Europe, South Asia, China and Northeast Asia, Central Asia, and the Americas, he said, adding that the 20 premium buyers represent large hypermarkets and retailers with nationwide outlets from the US, India, the UK, Taiwan, Hong Kong, Kazakhstan, and Uzbekistan.
“Collectively, these buyers generated a revenue of more than $60bn in 2023. The participation of these 250 international buyers is expected to generate a potential sourcing value of more than RM1bn,” he said.
Aziz stressed that these business deals will have significant impact on the domestic economy and can support the exporters in terms of creating job opportunities.
The event also hosted several business-matching sessions, fostering new partnerships and expanding market access for Malaysian businesses, said Aziz, adding that INSP MIHAS 2024 facilitated at least 2,500 business matching sessions.
Emphasising the strategic importance of INSP MIHAS 2024, Aziz said:“This programme is instrumental in strengthening international trade relations, expanding market access for Malaysian businesses, and contributing to the development of sustainable global supply chains. It represents a critical component in our efforts to position Malaysia as a key player in the international Halal ecosystem.”