Asean’s Digital Economy Framework Agreement will ensure no SMEs, MSMEs left behind, says Malaysian minister

[KUALA LUMPUR] The efforts by South-east Asia to enhance trade and digital integration will ensure that more than 70 million small and medium-sized enterprises (SMEs) and micro-SMEs (MSMEs) are not left out, Malaysia’s Investment, Trade and Industry Minister Tengku Zafrul Aziz said on Tuesday (Mar 11).

Speaking at the UK-Asean Business Forum in London, Tengku Zafrul expressed optimism about finalising the Asean Digital Economy Framework Agreement (DEFA) by September or October this year, aiming for implementation by 2026.

“The numbers are significant. If we can get this started by 2026, we’re looking at US$2 trillion of trade using e-commerce by 2030,” he said.