(AFP) The influential Malay Chamber of Commerce announced today plans to launch a youth club to nurture and prepare young entrepreneurs to compete globally.

A youth council, targeting Malays aged 18 to 35, was set up July last year and would be officially launched by Prime Minister Dr Mahathir Mohamad on January 11, said youth council chairman Azlan Shah Jaffril.

Azlan said young Malay entrepreneurs needed to make contacts and learn the benefits of trade pacts such as the ASEAN Free Trade Area (AFTA) and the World Trade Organization (WTO).

"I dare say that the economic slowdown has not affected much these young entrepreneurs but this council is necessary because they are not united. We want to promote networking among them," he told a news conference.

"Our job is also to prepare them to compete internationally and build up their awareness of AFTA and WTO."

Azlan said the council would act as a "facilitator" for its members to build up business contacts and seek loans from 36 funds set up by the government for Malay businessmen.

It expects to recruit between 500 and 1,000 members in each of the 13 states. Membership criteria include those who own a company and young professionals.

The Malay Chamber of Commerce, which has some 6,000 members nationwide, also planned to launch a women's council by the end of the month to assist female entrepreneurs, officials said.

Under a 30-year-old affirmative action program, Malays and other indigenous groups are given economic, education and other benefits to help narrow the wealth gap with the Chinese community.