Micro, small and medium enterprises (MSMEs) can try targeting the premium market and exploring the potentials of Brunei Darussalam, a small but wealthy Southeast Asian country where opportunities to sell niche products abound, according to a trade expert.

Commercial counselor Norjamin Delos Reyes, who focuses on Malaysia and Brunei Darussalam, is encouraging Filipino exporters to Southeast Asia to also cast their eye on Brunei as a potential market destination.

Delos Reyes was part of a panel of commercial attachés at a recent exporters’ convention discussing trends in overseas markets. In her talk, she acknowledged that Philippine export products in Malaysia are generally not as price competitive as the goods produced in that country itself.

“We have to be very careful in positioning ourselves because we do not want to compete with the other products that already have a market base in, say, Malaysia or Thailand,” she said. Instead, she advocates going niche or premium rather than mainstream.

Premiumization of export commodities

Thus she is pushing for the “premiumization” of Filipino export commodities. “The market strategy I am proposing… is to bring in our premium products because that is where we [can] position ourselves. It can be an opportunity for the MSMEs to get more value for their products.”

Premiumization is the strategic process of enhancing product and brand positioning to cater to consumers seeking quality, authenticity and exclusivity, emphasizing meticulous attention to detail, refined craftsmanship, and superior value.

Moreover, Delos Reyes suggests that MSMEs looking to sell in Malaysia and other places in the ASEAN region also try their luck in oil-rich Brunei, as the sovereign state has a comparatively larger purchasing capacity.