Manila will carry the agenda of inclusive globalization at the World Economic Forum (WEF) in a bid to open up more trade opportunities for small businesses.
Trade Secretary Ramon M. Lopez said the Philippine agenda at the WEF Annual Meeting 2019 will center on inclusive globalization in the face of trade conflicts between economic superpowers. He specified, for one, the need to generate more cooperation to accelerate trade and investments.
The country will also call for the opening of special market access and technical cooperation for developing economies, as well as the upgrading of industries to adapt to the Fourth Industrial Revolution, Lopez added.
Further, the Philippines will stress at the WEF platform the need to digitalize and improve the capabilities of micro, small and medium enterprises. This is in line with the policy thrust of President Duterte to fund and assist MSMEs, which comprise 99 percent of business establishments.
“The WEF will be an opportunity to interact with world trade ministers and call for free and fair globalization, as well as advocate for the use of technologies in trade,” Lopez said in a statement.
As the country’s official representative to the WEF, Lopez is penciled to participate in a World Trade Organization meeting on trade reforms and hold bilateral discussions with several trade ministers. The trade chief will also lead an investment forum, as well as roundtables with multinationals and foreign business chambers.