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Foreign hypermarts to help sell SME goods [ 08-05-2012 ]

KUALA LUMPUR: Small and medium enterprises (SME) will have an easier way to market their products abroad.

Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said the government had inked an agreement with foreign hypermarkets here to sell these products at their outlets overseas.

 "SME products sold at the hypermarkets here will also be sent to their foreign branches," he said in reply to Senator Baharudin Abu Bakar on the government's initiatives to increase exports of SME's products to foreign markets at the Dewan Negara yesterday.

  He said the government had set up promotional programmes and branding for SME products at foreign markets with help from various government agencies such as the Domestic Trade, Cooperatives and Consumerism Ministry and the Federal Agriculture Marketing Authority.

He said the government had introduced several initiatives to help SMEs expand their operations, including the National Mark of Malaysian Brand programme to identify products for foreign markets.

  "SME products that received recognition under the National Mark of Malaysian Brand will be included in local and international trade promotion programmes under the ministry.

  "They can also get a financial aid scheme under the Malaysian External Trade Development Corporation to expand their business operations to foreign markets."

  Mukhriz added that SME entrepreneurs were also given grants to take part in international trade exhibitions, foreign trade and investment missions and other ventures.

  Meanwhile, Deputy Finance Minister Datuk Donald Lim Siang Chai told the house that SMEs needed to fulfil certain criteria before applying for the RM2 billion syariah-compliant financing fund set up by the government recently.

  He said they must have 60 per cent local ownership and the maximum amount of aid was RM5 million for each company.

  "These enterprises will be funded for five years with the government subsidising two per cent of the interest rate to reduce their financial costs."

  Thirteen Islamic financial institutions are involved in disbursing the syariah-compliant fund, including Bank Islam Malaysia Bhd, Bank Muamalat Malaysia Bhd, Maybank Islamic Bhd and CIMB Islamic Bank Bhd.

  Meanwhile, Deputy Youth and Sports Minister Datuk Razali Rahim said the government had allocated more than RM12 million for Indian youth organisations over the past one year. He said more than RM600,000 were given to eight prominent Indian youth organisations.

 

 

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