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SMEs stand to gain from Asean Economic Community but challenges seen
SMALL and medium-sized enterprises (SMEs) in the region stand to gain from the creation of the Asean Economic Community (AEC), but navigating the complexities of international trade will be challenging, according to a report from ACCA.
The report titled SME Development in Asean found that the AEC, created in December 2015, offers significant opportunities for SMEs through the liberalising of trade tariffs and access to global value chains.
But findings also show that SMEs may struggle to take advantage of the benefits available due to a lack of technology support and access to finance.