By Gabriel Chen

SMALL and medium-sized firms (SMEs) are urged to increase their export competency and pursue new markets aggressively during the difficult economic climate.

Minister of State for Trade and Industry and Manpower Lee Yi Shyan on Thursday said SMES have to build 'competencies' so they will be ready to capture new opportunities during the upturn.

'Our exporters need to be well-prepared to weather this downturn by remaining competitive and relevant,' he said at the IE Singapore's annual exporter seminar on Thursday. Mr Lee also launched a new scheme that aims to give businesses knowledge about entering new markets and how to go about conceptualising their export strategy.

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