KUALA LUMPUR, Oct 9 (Bernama) -- The Ministry of International Trade and Industry targets a 30 per cent participation rate for small and medium enterprises (SMEs) in global business by next year.
Minister Datuk Seri Mustapa Mohamad said to date 25 per cent of local companies have established networking in the foreign market, and to go global they have to comply with all established commercial standards before sending their goods and services.
"We are pushing aggressively towards the goals and a lot more has to be done in terms of non-barrier tariffs and harmonisation of standards in order to increase global trade," he said.
He was speaking to reporters at the National Mark of Malaysian Brand (NMMB) Forum here today where he also presented certificates and trophies to 24 recipients.
She said to date 102 companies have been certified, exceeding the target of 100 companies certified in five years.
"But this is not about numbers but the quality of companies particularly with good brands that we want to bring to the international market," she said.
Hafsah said all the companies had passed a very stringent evaluation exercise by SIRIM QAS Sdn Bhd with distinction and come up with excellent products and services.
She added the certified companies increased their sales from five per cent to up to 30 per cent annually due to enhanced market access domestically and internationally.
Hafsah said 75,000 SMEs have registered for the GST as of last Friday, out of about 150,000 SMEs with sales of RM500,000 and above, adding that as of September, SMEs comprise 78 per cent of businesses that have registered for the GST.