SMES must buck up for TPPA

There are pros and cons to the TPPA, but 30 of SMEs may be in danger of going out of business if they aren’t competitive when the agreement goes into full force two years after inking. — 123rf.com

Many small and medium businesses in Malaysia have been in the comfort zone for too long and are not ready to compete internationally. As such when the TPPA comes into full force, some 30% may have to close shop, reports HO WAH FOON.

THE Trans-Pacific Partnership Agreement (TPPA) is likely to force out at least 30% of Malaysia’s 650,000 small and medium enterprises (SMEs) if local SMEs are not ready to compete internationally upon its full implementation, according to Michael Kang Hua Keong, president of SME Association of Malaysia.