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After APEC, PHL to push MSME agenda in WTO
- Source: http://www.pna.gov.ph/index.php?nid=3&rid=811723
- Monday, October 5, 2015
- By Kris M. Crismundo [(PNA), LGI/BNB/KMC]
ILOILO CITY, Oct. 5 (PNA) -- The Philippines will be putting its agenda for micro, small, and medium enterprises (MSMEs) in a global level as the country pushes for discussions concerning the said industry in the upcoming 10th Ministerial Conference of the World Trade Organization (WTO).
In a statement on Monday, the Department of Trade and Industry (DTI) said the Philippine Mission to the WTO (PMWTO) submitted two documents on “Fostering the Participation of MSMEs in Regional and Global Markets” to the international organization.
Prior to the 10th WTO Ministerial Conference in Nairobi, Kenya from Dec. 15-18, DTI Secretary Gregory L. Domingo recently attended the WTO Public Forum in Geneva, Switzerland where he emphasized the need to include MSMEs in the global trade.
The Public Forum is the WTO’s largest annual outreach event, which provides a platform for participants to discuss the latest developments in world trade and to propose ways of enhancing the multilateral trading system.
The event attracts over 1,500 representatives from civil society, academe, business, media, governments, parliamentarians and inter-governmental organizations.
Domingo noted that MSMEs should be at the forefront of trade policy making in order to open more opportunities for small businesses.
He stressed involving MSMEs in global value chains will promote inclusive growth.
Aside from the WTO conference, the Philippines now moves forward with its MSME agenda in the Asia Pacific Economic Cooperation (APEC) as the country is hosting this year’s summit.
Only on Sept. 25, the APEC concluded the 22nd SME Ministerial Meeting in Iloilo City with the theme of “Mainstreaming MSMEs in the Global Economy”.
The Philippines underscores the role of MSMEs in the economy as the sector accounts for more than 90 percent of total businesses in the country and employs over 60 percent of the total labor force.