PH plays...

endorsed by the ministers in the previous meetings. These include the implementation progress of the Focused and Strategic (FAST) Action Agenda on Investment, and the conclusion of the ASEAN Trade in Services Agreement (ATISA) by end-2017.

With the adoption of the ASEAN Seamless Trade Facilitation Indicators (ASTFI), it will be the first time for ASEAN to proactively study what ASEAN has achieved and set benchmarks and targets moving towards 2025.

The leaders are also expected to approve the ASEAN Inclusive Business (IB) Framework to strengthen enabling policy environments for IB in ASEAN Member States, agree the Action Agenda on Mainstreaming Women Economic Empowerment (WEE) in AEC, adopt the ASEAN Work Programme on Electronic Commerce 2017-2025, and adoption of the ASEAN Declaration on Innovation by the ASEAN Science and Technology Ministers.

“The near completion of our economic priority deliverables shows our strong commitment towards ensuring that the AEC is fair, workable, rational, and inclusive for all,” said Trade and Industry Secretary Ramon M. Lopez said.

The endorsement of the ASEAN Inclusive Business Framework will allow companies to engage the poor and low-income communities as partners in their supply chains.

FOCUS ON MSMEs Because of the important role that micro small and medium enterprises (MSMEs) play in sustaining employment and generating GDP, the Philippine chairmanship has championed this sector to be highlighted in this year’s ASEAN celebration.

DTI Undersecretary Zenaida C. Maglaya stressed that the Philippines’ ASEAN chairmanship allowed MSMEs to be highlighted in the adopted Manila Call to Action (MCA) during the ASEAN MSME Development Summit.

The MCA seeks to pursue affirmative actions for a holistic strategy through the 7Ms for MSME development, namely mindset, mastery, mentoring, money, machines, markets, and models.

The strategy will equip even the smallest entrepreneurs to be successful and innovation driven as well as pro-active in developing their businesses and become better entrepreneurs, Maglaya said.

“The significance of micro small and medium-sized enterprises (MSMEs) as major economic drivers is beyond question. Their sheer number is overwhelming, as they account for 98 percent or more of all enterprises in most countries. Recent empirical studies show that MSMEs contribute to over 55 percent of GDP and over 65 percent of total employment in high-income countries,” said Maglaya.