SMALL businesses need to upgrade skills amid the changing economic landscape, International Trade and Industry Deputy Minister Datuk Mukhriz Tun Mahathir said.
This is because large corporations have collapsed, taking down supporting systems that consist of small and medium-scale enterprises(SMEs).
"Re-engineering is one of the pertinent processes for SMEs to be further integrated into the global marketplace," Mukhriz said.
He said while it is the duty of the government in every economy to ensure the survival of their business communities, efforts must be made to equip SMEs with the right strategic direction and approach to withstand the effects brought about by the crisis.
US Ambassador to Malaysia, James Keith, noted that although SMEs helped drive economic growth, their contribution to exports was still small.
He said their exports comprised only one-third of the total in the US. Keith suggested that Apec governments act as facilitators to remove barriers to boost SMEs' exports.
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