The ASEAN Weekend Market presented various MSME products in ASEAN (Association of Southeast Asian Nations), including fashion, handicrafts, and culinary.

Jakarta (Indonesia Window) – Indonesia’s Minister of Cooperatives and Small and Medium Enterprises Teten Masduki has said the holding of the ASEAN Weekend Market has a real contribution in opening up opportunities for micro, small and medium enterprises (MSMEs) to gain wider market access, especially in ASEAN.

"I think this event is very important to promote MSME products in ASEAN," Teten said at the opening of the ASEAN Weekend Market in Jakarta, on Friday (Sept. 1), the Indonesian Cabinet Secretariat quoted Teten’s remarks as saying.

With a population of 679 million people, ASEAN (Association of Southeast Asian Nations) has large market potential, and to optimize this potential, Teten said that ASEAN needs to increase competitiveness in the interests of domestic and regional economic growth.

“Therefore, in accordance with the theme of Indonesia's chairmanship of ASEAN, namely the Epicentrum of Growth, ASEAN must unite, strengthen collaboration and support local and regional products, so that ASEAN becomes a world production center where its products can dominate globally," he explained.

He went on to say that ASEAN also needs to strengthen the digital ecosystem for MSMEs including making efforts to improve digital literacy, to do equal playing field in e-commerce, to remove predatory pricing practices, and to provide easy financial access based on transaction data records for credit scoring.

Indonesia's chairmanship of ASEAN could be a momentum for cooperatives and MSMEs to be able to adapt to the strategic issues such as the digital transformation of MSMEs, as well as business models that adopt a production transition towards environmentally friendly and sustainable use of renewable energy.

"In addition, this opportunity can be used as a joint effort to encourage MSMEs to expand market access and enter the global supply chain, especially in the ASEAN region," he noted.

The General Chairman of the Indonesian Chamber of Commerce and Industry, Arsjad Rasjid, who is also the Chair of ASEAN-BAC (Business Advisory Council), said that the ASEAN Weekend Market presented various MSME products in ASEAN, including fashion, handicrafts, and culinary.

“This event shows the uniqueness and diversity of cultures in ASEAN," Arsjad pointed out, adding that the exhibition is a momentum to appreciate the hard works of MSMEs in supporting ASEAN's economic growth.

"MSMEs are the backbone of the economy in Indonesia and maybe in several other ASEAN countries," Arsjad noted.

The ASEAN Business Advisory Council (ASEAN-BAC) collaborated with the Indonesian Chamber of Commerce and Industry (Kadin) to hold the ASEAN Weekend Market in Senayan area, Jakarta.

The event which is part of the 43rd ASEAN Summit took place on September 1-3, 2023.

Editing by Indonesia Window