This year's Muffest will be enlivened with fashion shows, fashion presentations, retail exhibitions, business-to-business meetings, talk shows, seminars and a fashion design competition.
The Muslim fashion industry and markets are significantly growing domestically and globally, Industry Minister Airlangga Hartarto said while officially opening the Muffest here on Wednesday.
In 2018, the global Muslim population reached 24 percent of the world's total population.
"Indonesia is one of the countries with the best fashion growth among Muslims in the world, after the United Arab Emirates," said Hartarto.
The minister hoped the annual Muslim Fashion Festival would help promote Indonesian Muslim fashion products internationally.
“The largest Muslim fashion markets are member states of the OIC, reaching 191 billion US dollars. We still have the potential to increase our exports to the OIC member countries,” he said.
The Minister is optimistic that Indonesia would become a hub for the Muslim fashion industry in the world.
According to the State Global Islamic Economy, the global fashion consumption among Muslims was recorded at US$270 billion, and its growth rate is projected at five percent. Hence, it would increase to US$361 billion in 2023.
The Muslim fashion industry, which is part of Indonesia's textile and textile product (TPT) sector, has made a significant contribution to the national economy.
The national TPT product exports reached US$13.27 billion in 2018, up 5.4 percent from US$12.59 billion.
The performance of the TPT industry has grown significantly from 3.76 percent in 2017 to 8.73 percent in 2018.
Total business transactions worth Rp45 billion are expected to be achieved during the Fourth Muffest.
Organized annually by the Indonesian Fashion Chamber (IFC), the 2018 Muffest recorded transactions worth Rp38.9 billion, and received 51,389 visitors, an increase from Rp28.3 billion in business transactions and 47,100 visitors in 2017, Ali Charisma, the National Chairman of the Indonesian Fashion Chamber, said in his opening report of the 2019 Muffest.