Chamber: Tap Asean to mitigate slow demand from US

The Star, EDY SARIF, Malaysia

KUALA LUMPUR: The Associated Chinese Chamber of Commerce and Industry of Malaysia plans to tap new opportunities in Asean to mitigate the drop in exports to Europe and the United States.

President Tan Sri William Cheng said the business community in the country, especially small and medium enterprises (SMEs), had faced a significant drop in exports as a result of the global economic slowdown.

“We need not be too dependent on the US and Europe as exports to those countries are getting lesser.

“We need to find more opportunities in neighbouring countries to help our business people face this challenging times,” he told a press conference yesterday to announce a seminar on Asean Cooperation to Face Financial Crisis.

The event, to be held on April 11 at Wisma Chinese Chamber in Jalan Ampang, will be organised by the Chinese Chamber of Commerce and Industry Kuala Lumpur and Selangor (KLSCCCI).

The seminar will be a good platform to identify more opportunities in Asean apart from reviewing strategies taken to meet the current challenges.

Cheng said the Government and banks needed to help local companies, especially SMEs, by providing more assistance instead of pressuring them.

“Banks, for example, need to give more loans and not push them too hard on servicing their debts so that they can stabilise their businesses,” he said.