‘TRADE SPAT CAN BENEFIT ASEAN FIRMS’
Local firms that have ties with China can benefit from sharing of technology, product and financing capabilities
ATRADE war between the United States and China will benefit the ecommerce business in Southeast Asia, especially Malaysia, says Selangor Information Technology and E-commerce Council (SITEC) chief executive officer Yong Kai Ping.
He said since the US-China trade spat began, some e-commerce companies from China — including Hong Kong and Taiwan — had started to shift their businesses from the US to Southeast Asia.
“Most companies from Eastern countries are (also) beginning to shift their business sites or search for new markets other than US.
“This is where the role of Malaysia is very important, because among the Southeast Asian countries, it is well known for its e-commerce business,” Yong said at the SITEC Malaysia’s Top EC Merchant Awards at the Malaysia International Trade and Exhibition Centre (Mitec) on Saturday.
He said local companies that established partnership with firms from China could benefit from sharing of technology, product and financing capabilities.
Yong said while a US-China trade war would push trade conflicts to a new level of competition, firms in Malaysia should also take this as an opportunity.
He said local companies could also improve their skills in business as well as a platform to explore the international market.
“The enhancement of trade skills and capabilities is very important today to local companies especially to venture into international markets.”
SITEC is working to open up opportunities for local firms especially those involved in ecommerce to penetrate external markets.
“The two trading platforms that SITEC will explore for local companies are in China, as well as through the international e-commerce platform, Amazon,” added Yong
The enhancement of trade skills and capabilities is very important today to local companies especially to venture into international markets. YONG KAI PING
SITEC chief executive officer
SITEC is also working with Amazon and other platforms to open up opportunities for local companies, to penetrate the external market.