MATRADE targets beauty products to contribute 5 pct to exports

The Malaysia External Trade Development Corporation (MATRADE) expects the exports of beauty products under the lifestyle industry to contribute at least five per cent to exports this year from last year's RM1.124 billion.

Chairman Datuk Noraini Ahmad said MATRADE was confident of meeting the target following the number of initiatives provided by the government.

"For the first eight months of 2016, exports of beauty products or soft exports amounted to RM809 million, and with the quality products produced by our local companies, we can simply achieve the five per cent," she told reporters after launching Beauty Expo 2016 here today.

She said it was a new sector for the country to focus on to strengthen the economy.

"Next, we are going to tap into the halal segment which offers a much bigger market as halal beauty and cosmetics products are fast gaining popularity among the Muslims around the world.

"However, the halal products are not confined to just Muslims but also to others as the halal concept places special emphasis on hygiene and safety aspects during product manufacturing," she added.

Noraini also urged local companies from the industry to leverage on today's event as a platform to further expose their products and brands to consumers.

She also noted that the beauty and cosmetics products are no longer exclusively for women as more men are paying special interest in their personal appearance, thus expanding the target market.

Organised by UBM Asia, the 16th Beauty Expo is a four-day event beginning today, showcasing 443 brands from 200 companies in 22 countries. -- BERNAMA