Image credit: New Straits Times
KUALA LUMPUR: Majority of Malaysian small and medium enterprises (SMEs) are seeking opportunities in international trade within the Asia Pacific (Apac) region especially within Southeast Asia and East Asian markets such as China, Japan, Korea and Taiwan.
This is according to a finding of a survey conducted by FedEx Express and SME Association of Malaysia.
The respondents to the joint survey titled "Levelling Up the Logistics Strategy for SMEs in Malaysia" also identified other markets of interest including those in Europe, the Middle East and the Americas.
The survey said more than half (58 per cent) of the respondents indicated they were looking at expanding their business presence, while the remaining respondents (42 per
FedEx Express Malaysia managing director SC Chong said the survey showcased valuable insights into the current mindset and intent of small to medium businesses in Malaysia.
"We at FedEx Malaysia are already adapting and digitising with agility to better support these businesses in scaling up cross-border commerce capabilities.
"As an essential service provider, FedEx has operated throughout lockdowns, prioritising our customers' recovery and e-commerce growth.
"We are committed to help minimise disruptions to their supply chains, in and outside of Malaysia.
"Our global network helps ensures timely delivery within Asia, as well as the US, Canada and Europe, further offering Malaysian businesses the reliability, affordability and customer-focused support they depend on," he said in a statement.
SME Association Malaysia president Ding Hong Sing said Malaysian SMEs were shifting focus to markets within the Apac region, with intra-Asia trade burgeoning because of rising e-commerce transactions, driven by the Covid-19 pandemic.
"For SMEs looking to expand their market outreach, there is a prevailing optimism despite the current intense competition in the e-commerce marketplace, economic uncertainty and government restrictions being introduced.
"We believe that there are pockets of opportunities present within the e-commerce sector which will continue to experience an upward trajectory," he said.
Conducted at the end of 2021, the joint survey saw participation from 383 Malaysian SMEs, with the majority of them recording up to RM10 million in turnover in 2021.
Over 70 per cent of the companies registered an average of 200 shipments per month last year through e-commerce activities, utilising a mix of logistics services to ship via air and land.
Source: https://www.nst.com.my/business/2022/03/781778/malaysian-smes-seek-trade-opportunities-asia-pacific-fedex-survey