MCOT English NewsSIEM REAP, May 5 (TNA) -- Economic ministers of the 10-member Association of Southeast Asian Nations (ASEAN) on Tuesday discussed the possibility of establishing an ASEAN SME Council aimed at assisting small and medium-sized enterprise operators in the region facing cashflow problems, Thai Commerce Minister Pornthiva Nakasai said.
Mrs. Pornthiva, who chaired the unofficial meeting in Cambodia’s northwestern province of Siem Reap, told journalists that the current global economic slump has forced financial institutions to become more cautious in extending loans to exporters, especially small enterprise operators in the region.
Measures to help smaller exporters under pressure in ASEAN will be submitted at the ASEAN summit with six dialogue partners, scheduled to be held in the southern Thai resort of Phuket in June, said Mrs. Pornthiva. The summit is tentatively scheduled June 13-16.
Mrs. Pornthiva said that during Tuesday’s meeting she had proposed the establishment of an ASEAN SME Council, aimed at boosting the efficiency of SME operators in the region, given that they comprise about 90 per cent of total business operators.
The formation of the council could also benefit Thai SME operators as it would help lower costs of raw materials and improve exports and investment between the operators themselves, she said.
SME operators in the textile industry are expected to be the first sector to work jointly with the ASEAN SME Council, said Mrs. Pornthiva, adding that the proposal for the setting up of the council should become clearer this August when ASEAN economic ministers meet again.
ASEAN secretary-general Surin Pitsuwan, meanwhile said the meeting also discussed attempts to boost cashflow of smaller exporters in the region by setting up a special fund designed to help lower the financial costs of exporters and simultaneously increase intra-trade values. (TNA)
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