ASEAN TRADE CENTRE TO HELP SMEs IN PENETRATING NEW MARKETS

KUALA LUMPUR, April 20 (Bernama) -- The Asean Trade Centre, expected to be
established by October this year, will further support small and medium
enterprises (SMEs) to penetrate the Asean market as well as new markets.

The initiative will also help the SMEs to cut down their production costs
and help them in buying raw materials in bulk, said Kuala Lumpur Malay Chamber
of Commerce Malaysia's president Syed Amin Al-Jefri.

He said the SMEs could also reduce their production costs through contract
manufacturing.

He was speaking at a briefing here Tuesday on the 2010 Asean Business and
Investment Summit Business Awards.

Also present were Kuala Lumpur and Selangor Indian Chamber of Commerce and
Industry's deputy president Ramesh Kodammal and SMI Association of Malaysia's
president Chua Tiam Wee.

"We have already come out with the business plan and we hope the centre
can be established before the Asean Summit this year," said Chua.

Initial cost of setting up the centre is estimated at RM2 million (US$588
million), he said.

Chua said the proposed trade centre would also provide warehousing and
logistics facilities and possibly financing for the SMEs to access new markets.

Syed Amin said through a company to be set up, investors from the SME
community would be invited to take up shares in the proposed trade centre.

He said the committee had agreed to appoint Chua as chief executive officer
of the proposed company.

"The main idea in setting up the trade centre is that we hope to consolidate
cargo together for all SMEs," Ramesh said, adding that it would be an advantage
to them to market their goods in this manner.

On the recent seminar on "Business Opportunities with Venezuela", Syed Amin
said two companies from Venezuela had made arrangements with Labuan Offshore
authorities to set up their operating bases in the country.

The business seminar and roundtables held on April 16 were followed by a
commercial exhibition where representatives from industries such as tourism,
technology, water, organics chemicals, raw cocoa, and textile and fabrics
participated in the event.
-- BERNAMA


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