Tuesday, 19th March 2003

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SMEs face challenges in light of global uncertainty

 

Small and medium enterprises are still challenged by the sluggish world economic recovery and the increasing rate of globalisation.  These are now being compounded by the recent developments in the fight against terrorism that have led to higher oil prices and more economic uncertainties. 

The remark came from the Director of Trade and Entrepreneurial Development Division at the Ministry of Industry and Primary Resources at the 12th ASEAN SME Agencies Working Group Meeting in Berakas.  Awang Haji Abdul Rahman, who is chairing the three-day meeting said ASEAN SME Agencies, as facilitators of SME development, should find more innovative ways of helping the SMEs survive these trying times and convert those challenges into opportunities for growth and thus strengthen the competitive positions of ASEAN SMEs under the current business environments.

 

The meeting will discuss the progress of the proposed policy blueprint for ASEAN SME development decade 2002-2012 and the Hanoi Plan of Action, which consists of programmes and activities for the SME development.  The meeting will also discuss issues under the cooperation with dialogue partners of ASEAN, which include Japan, Australia Development Cooperation Program, India and ASEAN+3.  The meeting is being attended by delegates from ASEAN member countries and the representative from the ASEAN Secretariat.  

 

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