SME Corp inks MoU with OSMEP Thailand to boost competitiveness of MSMEs

SME Corporation Malaysia (SME Corp) has inked a memorandum of understanding (MoU) with the Office of SMEs Promotion (OSMEP) of Thailand to improve the competitiveness of micro, small and medium enterprises (MSMEs).

SME Corp said the agencies seek to further strengthen the cooperation and partnership through the sharing of policies, expertise, and information between the two countries towards that end.

In a statement, it said the MoU entails a special focus on the exchange of information and implementation of activities in the areas of digitalisation, sustainability, and market access for MSMEs.

SME Corp chief executive officer Rizal Nainy expressed optimism that the MoU would improve the economic cooperation and contribute to more trade between Malaysia and Thailand.

“With the signing of this MoU, we pledge continuous commitment and efforts in enhancing strategic collaboration for MSMEs’ empowerment, marketability, and internationalisation,” he added.

According to SME Corp, Thailand is currently ranked as Malaysia’s seventh largest trading partner in the world and third largest trading partner in Asean.

Malaysia’s total trade with Thailand recorded an increase of 21.7 per cent to RM60.75 billion in the first half of this year compared with RM47.87 billion in the same period of 2021.

“Against this backdrop, SME Corp continues to promote the development of competitive, innovative, and resilient MSMEs through effective coordination and provision of business support,” the agency said. — Bernama

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