PH seeks Apec support for MSMEs

BORACAY, Aklan—The Philippines will be seeking the support of trade ministers from members of the Asia Pacific Economic Cooperation (Apec) for the “Boracay Action Agenda to Globalize Micro, Small and Medium Enterprises” (MSMEs) as the country puts forward new policies, rules and regulations that will ease the integra tion of these firms in the global trade and value chains.

As it is, the Philippines has already gained support for the MSME agenda in the various fora and discussions that were held this week, leading up to the Apec Ministers Responsible for Trade (MRT) meeting starting today.

Trade Secretary Gregory L. Domingo said in a briefing here yesterday that priority of the Philippines for the MRT meeting would be to foster MSMEs’ participation in regional and global markets. The two other topics of focus would be on support for the multilateral trading system and the regional economic integration.

“We are trying to push in particular that distinction between micro and small enterprises, and medium enterprises. That distinction is important because the type of interventions required to assist micro and small enterprises and to bring them into the global trade fold, the interventions may be different. And that’s why that distinction is quite important and that’s one of the things the Philippines is pushing for,” Domingo explained.

The trade chief stressed that the interest of the micro and small enterprises should be at the “front and center in the global trade agenda” rather than just a by-the-way treatment, wherein these small enterprises would just get the secondary or third level effects of trade policies and programs.