ASEAN-BAC Malaysia’s ED Discusses the MSME Internationalisation Challenges at the AANZFTA’s ASEAN-CER Integration Partnership Forum in Auckland, 29 may 2024

The journey for micro, small and medium-sized enterprises (MSMEs) across borders, especially within ASEAN, highlights several key areas for growth and improvement. MSMEs aspire to expand beyond borders, but face challenges due to mismatched expectations, limited financial literacy, trade barriers and lack of incentives.

At the sidelines of the 21st AANZFTA’s FTA Joint Committee (FJC) event in Auckland, Jukhee Hong, Executive Director of ASEAN-BAC Malaysia spoke at the ASEAN-CER Integration Partnership Forum on the imperative to simplify, standardise, and harmonise cross-border regulations and procedures to foster the internationalisation of MSMEs.

Fragmented policies among ASEAN member states could hinder policy outcomes, necessitating cross-border alignment between ministries, agencies, and regulators in easing the movements of goods, services, investment, capital and talent, thereby narrowing the development gap and achieving a single integrated market in ASEAN.

Gratitude is extended to the New Zealand Ministry of Foreign Affairs and Trade for supporting the event, and special thanks to Stephanie Honey, Alun Evans and Cynthia Dearin for the invaluable insights at the session.