KUALA LUMPUR: The time is right for Malaysia and Japan to strengthen their collaboration in the halal industry given the high interest seen in Japan, particularly in the food sector, the Malaysia External Trade Development Corporation (MATRADE) said.

Chief executive officer Datuk Mohd Mustafa Abdul Aziz said Malaysia needed to leverage the opportunity to grow in terms of investments with Japan as the East Asia country has adequate technology whilst Malaysia has a good networking system.

"Of course, we also have expertise in terms of certification and MATRADE will continue to assist the businesses from both countries and leverage the opportunities in the halal industry," he said at the Business Seminar to Commemorate the 40th Anniversary of the Look East Policy (LEP).

He was one of the panellists in a discussion titled "Government Policies and Strategies on Promoting Trade and Investment in Malaysia".

He said the upcoming Malaysia International Halal Showcase (MIHAS 2022), which would take place in a hybrid setting from Sept 7 to 10, 2022, has received participation from 17 Japanese companies.

"Back in 2019 before the COVID-19 pandemic hits, we only received eight exhibitors from Japan with 10 buyers and last year, we received 12 companies participated with 21 buyers through virtual platform," he said.

He said looking at the increasing numbers, MATRADE would continue to engage with Japanese partners to bring in more investments into Malaysia.

"I believe this is the right platform and place for us to work our businesses in this sector," he added.

According to Matrade, Japan was Malaysia's fourth largest trading partner and and fifth largest export destination and import source in 2021.

Last year, Malaysia's export to Japan was worth RM75.82 billion while imports from Japan was valued at RM73.94 billion.

-- BERNAMA