PH to showcase SMEs at Apec meetings in ’15

The Philippines is putting under global spotlight the local small and medium sized enterprises (SMEs) when it plays host to the Asia Pacific Economic Cooperation (Apec) meetings next year, as it seeks to boost these firms’ accession to regional and global value chains.

“We will look at global trade through the prism of SMEs,” Trade Secretary Gregory L. Domingo said in his speech at the Apec 2015 launch Monday night.

Domingo stressed the need to ensure that SMEs can participate in regional trade in an easy manner.

“We have to make sure that the rules are made simple for small companies so they can feel the effect or benefits of the free trade agreements,” Domingo said.

This is why for the country’s year-round hosting of the Apec 2015 meetings, there is a “very deliberate effort from the government to bring the meetings to the regions.” Apec meetings will be held in Manila, Legazpi, Clark, Bataan, Boracay, Bacolod, Iloilio, Tagaytay and Cebu. This forms part of the Philippine government’s strategy to spread out as much opportunities as possible for SMEs.

The Department of Trade and Industry and the host local government units will also be organizing trade and investment promotion-related activities in these cities to promote more businesses in these regions.

“By going to the regions, we will be making a very important point. As the global spotlight shines on different locations around the country, our guests will discover a consistency in the high standards of professionalism and high quality of skills, talent, and creativity of our people,” Domingo said in his speech.

The trade chief believes that the government’s thrust for inclusive growth can only be achieved if the SMEs will be empowered and capacitated through enabling environments that will allow them to expand their markets. This way, more direct and indirect jobs and livelihood will be created not only in the cities and urban areas, but also in the rural and countryside.

“To achieve inclusive growth, it is imperative that our SMEs must be competitive and be able to participate in global value chains. For Filipino SMEs to succeed internationally, they need access to open, transparent, and efficient markets. As incoming chair of Apec 2015, the Philippines will help ensure that all Apec member economies will support businesses in this way,” Domingo said.

“We would encourage other Apec economies to improve their institutional support system for SMEs. The Philippines will lead projects that will promote and harness synergistic linkages between SMEs and large firms, as well as to enable SMEs to benefit from regional economic integration,” he further added.