Issue of September 1, 2019
     
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Service portal helps ASEAN SMEs link w/ internat’l market
by DTI release

Small and medium enterprises (SMEs) in Southeast Asian countries can have easier access to trade-related information crucial for them to penetrate regional and international markets.

The Association of Southeast Asian Nations (ASEAN) SME service web portal, www.aseansme.org, recognized the need to link smaller firms with enterprises, traders, suppliers, manufacturers, and consumers within the region and trade partners.

“...By enhancing their market access and paving the way for their internationalization, SMEs are able to take advantage of the trade and investment opportunities and benefits from regional economic integration,” it said.

The web portal provides services to ensure that ASEAN shall be globally competitive and innovative by the year 2025.

These are promoting productivity, technology and innovation; enhancing market access and internationalization; increasing access to finance; enhancing policy and regulatory environment; promoting human capital development; best practices; and other services.

ASEAN SMEs can also access the list of government service providers; private service providers; business association/private representative organization/chamber of commerce and industry; non-for-profit organization/foundation/non-governmental organization; academic institutions; and joint public and private organization/programs.

The portal has also built directory of new and sale products.

The SMEs are deemed key drivers and contributors to the gross domestic product (GDP) of ASEAN economies, accounting for over 95 to 99 percent of all business establishments; and generating between 51 and 97 percent of employment in many ASEAN member states.

The contribution of SMEs to GDP is generally significant at about 23 to 58 percent, while their share to exports ranges from 10 to 30 percent.


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