Apec adopts Iloilo initiative on small businesses
DTI undersecretary Zeny Maglaya. INQUIRER FILE PHOTO
ILOILO CITY, Philippines—Officials from the Asia Pacific Economic Cooperation member countries yesterday adopted the Apec Iloilo Initiative which seeks to provide “a bigger voice and better opportunities” for the micro, small and medium enterprises (MSMEs) through increased focus on the potentials of the Internet, the digital economy, and e-commerce.
The “Apec Iloilo Initiative: Growing Global MSMEs for Inclusive Development,” which resulted from a meeting of Apec SME ministers and officials here, is a guiding framework in integrating MSMEs in international trade and global value chains, Trade Undescretary Zenaida Maglaya told a press briefing.
“We will work to implement the initiatives under this framework to maximize the benefits of cooperation,” she said.
Reduce trade barriers
“We reaffirm the importance of addressing trade and investment barriers, and implementing trade facilitation measures as underscored in the Boracay Action Agenda, in order to provide a better business environment for MSMEs,” she said.
Quoting from the statement issued here by the Apec SME ministers, Maglaya noted the relevant initiatives already in place to reduce trade barriers, such as the 2nd Apec Ease of Doing Business Action Plan, Apec Business Travel Card, the Apec Supply Chain Connectivity Framework Action Plan and the Apec Connectivity Blueprint.
The Apec SME officials also acknowledged the important role that the digital economy plays in enhancing access to the global market and driving innovation for MSMEs.
Maglaya explained that the Iloilo Initiative has shown an increased focus on e-commerce which she said was regarded as a “very vital tool… for marketing of MSMEs.”
“Different economies are at different levels when it comes to readiness for e-commerce but everybody is aware and fully appreciative [of the fact] that it is the way to go now. It is the platform now not just for markets but also for business resiliency for MSMEs,” Maglaya said.
Trade Secretary Gregory L. Domingo earlier said that e-commerce was important because it “levels the playing field in the sense that market access becomes much better.”
An important part of the Iloilo Action Initiative, which will be endorsed to Apec leaders in the summit in November, is the creation of the Apec MSME Marketplace, aimed at providing a platform through which small enterprises will be better able to participate in international trade and be part of global value chains.
Interactive repository
Maglaya explained that this marketplace will allow information sharing among Apec economies as it will serve as an interactive repository of Apec activities. Such information will include market regulations as well as the proposed initiatives and programs of Apec and how these can be implemented in line with the goals of the Boracay Action Agenda to Globalize MSMEs, which was adopted by trade ministers in Boracay in May.
“This will be like a platform where we can have information regarding existing initiatives and innovations among Apec economies be made available. This marketplace will be a rich source of knowledge and information,” she said.
According to Domingo, new, detailed ideas emerged during the Apec SME ministers’ discussions, covering the Internet economy, standards conformance, automation and innovation, among others. Also discussed was the role of e-commerce in helping MSMEs expand their market base and widen their business networks, and consequently, in ensuring an inclusive and sustainable growth across Apec, he said.
