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BUSINESS

MIFB 2022 expects to generate US$250 mln trade deals

07/07/2022 02:38 PM

KUALA LUMPUR, July 7 (Bernama) -- The ongoing Malaysian International Food and Beverages Trade Fair 2022 (MIFB 2022) from July 6-8 expects to attract 10,000 visitors and generate total trade deals of US$250 million (US$1=RM4.43).

Organised by Constellar Exhibition Malaysia Sdn Bhd, this year’s MIFB is themed 'Future of Food Business' and features solutions, technologies and discussions focusing on the current challenges in the global food supply chain, from labour shortages in production and services to disruption of global logistics and rise in transportation costs. 

Speaking to reporters after the MIFB launch ceremony, event director Henri Tan said MIFB has played a significant role in shaping the future of the food and agriculture industry in the region for over 20 years.

“With food security a top priority on the agenda of many corporates and governments, it is imperative that stakeholders take urgent measures to prevent the situation from deteriorating further.

“Various organisations and innovative individuals are dedicating their time and efforts to ensure that the global food supply chain becomes more sustainable and efficient for future generations,” he said. 

Commenting on the smaller crowd at the event, Tan said MIFB was mainly focusing on the business-to-business (B2B) end of the trade fair to have business matching and transactions that meet their needs and not on the crowd. 

“The fewer visitors (perhaps) was due to the recovery which has just started. People around the world are still on cautious mode given the COVID-19 as well as new infections reported,” he added. 

The three-day fair which is supported by the Malaysia Convention & Exhibition Bureau (MyCEB), is participated by over 200 exhibitors from 22 countries and regions including South Korea, Turkiye, Peru, Sri Lanka, Poland, and India. 

Earlier MyCEB chief operating officer Noor Ahmad Hamid said this year’s edition would have an estimated RM61 million economic impact and RM26 million in visitor’s expenditure to the Malaysian economy. 

“This exhibition would create many job opportunities for the industry to grow.

“MyCEB, thus far, has supported more than 2,000 business events in our country, bringing in around 1.3 million delegates since 2010, which contributed almost RM17 billion in economic impact to the Malaysian economy,” he added.

-- BERNAMA

 


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