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ASEAN Economic Ministers agree to strengthen small and medium enterprises

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ASEAN Economic Ministers agree to strengthen small and medium enterprises

2011-05-07 04:48:57 GMT+7 (ICT)

JAKARTA, INDONESIA (BNO NEWS) -- Economic Ministers from the Association of Southeast Asian Nations (ASEAN) gathered in Jakarta, Indonesia on Friday and agreed to strengthen the region's small and medium enterprises (SME).

Indonesian Trade Minister Mari Elka Pangestu told Antara news agency that the ASEAN Economic Community highlighted the importance of maximizing ASEAN's SME potentials, as they form a key element in the region's economic integration.

The ASEAN Economic Ministers held a preparatory meeting in the Jakarta Convention Center where they agreed to strengthening the region's SME, as talks include the development of SME, an increase in business standards, and the construction of an information system in order to accelerate business adjustments.

Pangestu also said recommendations would include efforts to initiate a special program for SMEs, provide with funding, set up business advisory and financial management services, reinforce technical cooperation capacity among them, and integrate SMEs into ASEAN regional product networks.

Since 2010, ASEAN's SME ministers established a Master Plan on SME Development which was followed up with this year's SME Advisory Board, which will be meeting in August.

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-- © BNO News All rights reserved 2011-05-07

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