DTI calls for more assistance to SMEs

Trade Secretary Gregory L. Domingo is pushing for the issuance of a package of policy measures for small and medium enterprises (SMEs) in the 43rd Asean Economic Ministers (AEM) Meeting and Related Meetings this week.

“We (are) championing SMEs as a primary consideration in our international trade engagements, particularly on measures that will ease processes and procedures when getting tariff treatment,” Domingo said in a statement.

According to Domingo, the Philippine government, through the Department of Trade and Industry, has been “actively exploring all avenues to make it easier for SMEs to become successful exporters.”

The four-day conference, which will end on Sunday, covers various economic issues under the Asean Free Trade Area Council Meeting, Asean Investment Area Council Meeting, Asean Mekong Basin Development Council and consultations with Asean trading partners such as Australia, China, India, Japan, Korea and New Zealand, as well as dialogue partners like the United States and the Russian Federation.

The 43rd AEM Meeting will also cover dialogues between the Asean Economic Ministers and Asean Business Advisory Council (ABAC) and the US Asean Business Council.

ABAC acts as Asean’s primary vehicle for private sector feedback to boost the region’s efforts toward economic integration.

The US Asean Business Council, on the other hand, is the advocacy organization of American corporations within Asean.