Kuala Lumpur, March 30, 2018 – GBP International, an independent consulting company and UN Global Compact Network Malaysia (GCMY) have signed a Memorandum of Understanding (MoU) to explore and co-develop projects and programmes for small and medium-sized enterprises (SMEs) in Malaysia.

The workshops developed every month will enhance the successful internationalisation of Malaysian SMEs in Europe and USA and be part of an effort to boost trade in both regions.  In recent years, SMEs have become a starting point for more inclusive global trade and responsible supply chains. Increasing the trade of SMEs plays a key role in Malaysia’s economic development plan.

GBP International was founded in 1997 by Volker Friedrich in Malaysia with a focus on supporting German and European companies on their way to Asia. The company is legally represented in Malaysia and has offices in all major centres in Asia, with Berlin and Kuala Lumpur being the regional hubs.

According to the World Bank, SMEs account for 97% of businesses and 67% of employment in Malaysia. These businesses are responsible for nearly 36% of the country’s GDP, 65% of the country’s employment, and nearly 18% of Malaysia’s exports.

Recognising this, the partnership will see the development of initiatives and action items which will form an international business and cooperation for the SMEs while improving their business on the basis of implementing the UN Global Compact goals. It will also create globally competitive SMEs in Malaysia and increase their ease of building sustainable businesses internationally.