ASEAN Business Councils Play Pivotal Role In Helping MSME's Expand: Minister

KUALA LUMPUR, Aug 5 (Bernama) -- ASEAN business councils play a pivotal role in helping micro, small and medium Enterprises (MSMEs) expand their businesses overseas, Minister of International Trade and Industry, Mustapa Mohamed said. In a statement Friday, he said the business councils can play a major role in resolving problems and overcome barriers to the region's MSMEs penetrating the regional and global markets. He also urged ASEAN dialogue partners to continue to step up activities to assist ASEAN MSMEs, as well as multinationals in the region to have clear strategy in assisting the MSMEs, as it will also benefit them. "There have recently been strong anti-global sentiments and an inclusive approach by multinationals to assist MSMEs, will not only enable them to enhance competitiveness, but also counter anti-globalisation sentiments," he said. He said this would also lead to an inclusive approach towards strengthening linkages between the big companies and MSMEs to be benefit from the regional integration initiatives. In addition, he said it would also provide MSMEs the necessary expertise to develop and promote competitive and creative products. Mustapa's suggestion was in line with the ASEAN economic ministers consensus to give priority to the development of MSMEs in the region, with specific focus given to micro enterprises. The consensus was reached at the 48th ASEAN Economic Ministers Meeting in Vientiane, Laos, from Aug 3-7, to recognise the challenges faced by MSMEs by having to compete in an open trading environment. The Ministry of International Trade and Industry (Miti) said this was aimed at enhancing the competitiveness of MSMEs, as well as, gear them towards becoming export ready. This is as outlined by the AEC Blueprint 2025 and the ASEAN SME Master Plan 2025 to put specific and focused measures to create globally competitive, resilient and innovative MSMEs. Miti said Ministers attending the meeting discussed extensively with ASEAN's dialogue partners, namely the United States, Canada, China, Japan, Korea, India, Russia, Australia and New Zealand, on specific programmes that can be implemented to develop and promote ASEAN-based MSMEs, including linking them to multinational companies. The ministry said ASEAN ministers also welcomed the establishment of the ASEAN-China Centre, ASEAN-Japan Centre and ASEAN-Korea Centre located in Beijing, Tokyo and Seoul. All are undertaking substantive programmes to assist ASEAN MSMEs tap opportunities arising from the enhanced partnership between ASEAN and the three countries. Mustapa said ASEAN MSMEs must leverage on these centres and tap on their expertise and resources. He said Malaysia through SME Corporation Malaysia (SME Corp) had been actively working with the dialogue partners and centres to assist Malaysian MSMEs. "Several programmes continued to be organised by SME Corp that have benefitted Malaysian MSMEs in penetrating the regional market and to go global," he added. -- BERNAMA