CHINA: New trade landscape emerging for AsiaÃ¢â‚¬™s SMEs
AsiaÃ¢â‚¬™s small and medium sized enterprises (SMEs) face both new challenges and opportunities as they emerge from the financial crisis according to a new research report by the Economist Intelligence Unit (EIU), commissioned by FedEx Express. The study shows that while cost controls remain crucial to survival, SME exporters may benefit from both new sources […]
February 1, 2010
The study shows that while cost controls remain crucial to survival, SME exporters may benefit from both new sources of consumer demand within Asia and from the rising volume of trade within the region. The benefits are even greater if more advantage is taken of AsiaÃ¢â‚¬™s many Free Trade Agreements (FTAs), according to thereport.
The report, titled Ã¢â‚¬ËœTowards the Recovery: Challenges and Opportunities facing AsiaÃ¢â‚¬™s SMEs,Ã¢â‚¬™ is based on interviews with corporate officers at SMEs, regional experts and a review of recent studies published by leading authorities, including the Asian Development Bank and national governments in the region.
Small and medium sized enterprises, which comprise 95 per cent of businesses in the Asia Pacific region and employ nearly 80 per cent of the workforce and hence play a critical role in the regionÃ¢â‚¬™s economic recovery and growth in 2010, according to FedEx Express Asia-Pacific president, David L. Cunningham Jr.
Ã¢â‚¬Å“With demand in the West making a slower recovery than AsiaÃ¢â‚¬™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 facilitator of trade, we believe the reportÃ¢â‚¬™s insights will help SMEs to evaluate these new opportunities and tap into the regional recovery underway in Asia.Ã¢â‚¬Â