KUALA LUMPUR, Oct 22 (Bernama) -- Small and medium Enterprises (SMEs) involved in the food sector should take advantage of new funds proposed under the 2017 Budget to promote exports.

Malaysian International Chamber of Commerce and Industry Vice-President Nordin Abdullah said they ought to grab the opportunity and create a positive balance in food trade.

The 2017 Budget, which was tabled yesterday, proposed a sum of RM350 million for export promotion for SMEs and RM70 million for the implementation of high-impact programmes.

He said the 2017 Budget also proposed the setting up of 150 Agrobazars and four Myfarmoutlets.

"This shows the government's commitment in improving the investment environment for food production, which will lead to higher levels of food security as a strategy to reduce food-based inflation," he said in a statement.

Nordin, who is also Malaysia-Australia Business Council executive committee member, said improvement in the distribution network would help shorten the time taken for food to travel from farms to customers.

Thus, this will reduce wastage in the supply chain and ensure that farmers will be able to earn more, he added.

Meanwhile, the SME Corporation Malaysia (SME Corp) said it would continue to work closely with relevant ministries and agencies in order to reach out to more SMEs.

"We will also ensure that the programmes and incentives announced under 2017 Budget are expeditiously implemented to bring maximum benefit to SMEs," it said in a statement.

-- BERNAMA