• SME News
Trade Prospects For Asia's SMEs Hinge On Demand From China, Says FedEX
KUALA LUMPUR, Jan 20 (Bernama) -- Trade prospects for Asia's small and medium enterprises (SMEs) are increasingly linked to rising demand from China's domestic market, said FedEx Express, a subsidiary of FedEx Corp, in a study.
The study showed while cost controls remained crucial for survival, SME exporters may benefit from both new sources of consumer demand within Asia and from burgeoning trade volume in the region, said FedEx in a statement.
The study titled "Towards the Recovery: Challenges and Opportunities Facing Asia's SMEs" was based on interviews with SMEs' corporate officers, regional experts and a review of recent studies published by leading authorities, including the Asian Development Bank and national governments in the region.
David L. Cunningham Jr, President of Asia-Pacific FedEx, said SMEs, making up 95 per cent of businesses in the Asia-Pacific region and employing nearly 80 per cent of the workforce, played a critical role in the region's economy and are vital in its recovery and growth in 2010.
"With the demand in the West making a slower recovery than Asia's rapidly- improving economic outlook, this report provides SMEs in the region with an understanding of the new trade dynamics that are emerging here. As a trade facilitator, we believe the report's insights will help SMEs evaluate new opportunities and tap into the regional recovery underway in Asia." he said.
Cunningham said there are signs China may be able to provide this as its middle-class becomes wealthier and policymakers seek to re-balance its economy from relying on exports and domestic demand. -- BERNAMA
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