KUALA LUMPUR, May 26 (PNA/Bernama) — The ASEAN Strategic Action Plan for Small and Medium Enterprises (SMEs) will be ready by November following submission to leaders of the regional bloc at the ASEAN Summit, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed Tuesday.
“We have been working on this for the past year. It is almost done. The next milestone is getting approval at the August meeting of the ASEAN Economic Ministers in Kuala Lumpur,” he said.
Mustapa was speaking to reporters after the launch of the ASEAN SME Showcase and Conference 2015 (ASSC 2015) here today by Deputy Prime Minister Tan Sri Muhyiddin Mohd Yassin.
Also present was SME Corp Chairman Tan Sri Mohamed Al-Amin Abdul Majid and Chief Executive Officer Datuk Hafsah Hashim.
Mustapa said the strategic plan would focus on recognising the importance of SMEs in the development of ASEAN countries and the need for capability development to build their competitiveness.
He said business networking at the ASEAN SME Showcase and Conference 2015 is expected to rake in RM400 million in sales and recorded RM40 million yesterday.
Earlier in his speech, Mustapa said the Malaysian government played an important role in facilitating the growth of businesses and ensuring SMEs have good access to financing.
The government is also committed to ensuring that SMEs are in a position to penetrate the foreign market, he added.
“In the case of Malaysia, we have 8,000 SMEs which are already exporting to the region, and indeed to the world.
“Our vision is to multiply the number by leaps and bounds and I am sure that ASEAN countries have got a similar objective,” he added.
Mustapa also acknowledged the need to simplify standard rules and regulations to do business among ASEAN member states.
He said a lot of work needs to be done to harmonise business rules and regulations.
“In the European Union for example, many standards are harmonised. It is our vision and objective,” said Mustapa.
Themed, “One Business, One Community”, the ASSC 2015 has attracted the participation of over 100 ASEAN SMEs and 200 Malaysian SMEs, to facilitate the exchange of trade information and establish synergies from more than 450 planned business matching meetings. (PNA/Bernama)