PH champions SMEs at APEC officials meet
THE Department of Foreign Affairs championed micro, small, and medium enterprise (MSMEs) at the Second Senior Officials’ Meeting (SOM2) of the Asia-Pacific economic Cooperation (APEC) in Port Moresby, Papua New Guinea.
“The Philippine delegation championed the cause of Philippine micro, small and medium scale enterprises in affirming the crucial role of MSMEs in growing the economy and in promoting greater access to global markets,” Foreign Affairs Undersecretary for International Economic Relations and APEC National Secretariat head Manuel A.J. Teehankee said.
APEC SOM2 meetings devoted discussions to past and upcoming initiatives which are in line with 2018 APEC host Papua New Guinea’s themes and priorities. Some of these include digital economy, connectivity, regional economic integration, and inclusive growth. Pursuant to efforts to define the new APEC vision after 2020, the Philippine delegation to the APEC SOM2 also disclosed the result of surveys among Philippine stakeholders, which finds that APEC has been very beneficial for the Philippines since joining the forum in 1989.
According to the survey, six of 11 (55%) agencies agree that APEC has benefitted the Philippines; five of 11 (45%) strongly agrees with the statement.
The Philippines is one of the founding members of APEC, which is the foremost non-binding international and multilateral economic cooperation engagement of the country abroad. APEC has been the country's platform for championing in the region a number of economic development thrusts, such as the promotion of inclusive growth, internationalization of MSMEs, and the competitiveness of the services sector.