‘TRADE SPAT CAN BEN­E­FIT ASEAN FIRMS’

Lo­cal firms that have ties with China can ben­e­fit from shar­ing of tech­nol­ogy, product and fi­nanc­ing ca­pa­bil­i­ties

New Straits Times - - BUSINESS - ALZAHRIN ALIAS zahrin@nstp.com.my

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

BLOOMBERG PIC

SITEC is also work­ing with Ama­zon and other plat­forms to open up op­por­tu­ni­ties for lo­cal com­pa­nies, to pen­e­trate the ex­ter­nal mar­ket.

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