ILOILO CITY—The Asia-Pacific Economic Cooperation (Apec) targets to establish an online portal that will allow Apec member-economies to promote cooperation and linkages to develop micro, small and medium enterprises (MSMEs).
Called as Apec MSME Marketplace, this is a component of the Iloilo Action Initiative, which is an interactive repository of information initiated by the Philippines’s Department of Trade and Industry.
The Iloilo Action Initiative was also the result of the 22nd Apec SME Ministerial Meeting concluded here on Friday.
The Apec MSME Marketplace focuses on three pillars.
The first pillar is to facilitate business networking and matching involving MSMEs.
This aims to strengthen MSME partnership with large enterprises through providing relevant information on MSMEs and large companies to encourage business matching among these enterprises.
The second pillar is to enhance MSME awareness and feedback on trade regulations in order for MSMEs to access information on new nontariff measures.
The third pillar is to improve mechanisms for knowledge sharing on trade facilitation, business support, partnerships, and capacity building activities for MSMEs.
This pillar eyes to share best practices in the region such as programs and success stories of helping MSMEs to participate in the global value chain.
The Apec SME Working Group will start the establishment of the Apec MSME Marketplace next year while implementation is eyed by 2017.