APEC to hold first SME Summit in the Philippines
By Kris M. Crismundo

MANILA, Nov 10 (PNA) -- The Asia Pacific Economic Cooperation (APEC) has partnered with APEC Business Advisory Council (ABAC) to hold the first Small and Medium Enterprise (SME) Summit on November 17 in Makati City.

To be held during the APEC Economic Leaders’ Week (AELW), the APEC SME Summit will have the theme of “Innovation and Big Ideas: Pushing Boundaries” and aims to challenge the traditional framework and mindset of micro and SMEs to further innovate their businesses.

About 1,500 delegates including MSMEs across Asia Pacific, government officials, ABAC, business organizations, and business students are expected to participate in the event.

The APEC SME Summit will have exhibits and featured talks from leaders of successful enterprises in the region, particularly those with innovative and disruptive business models.

Among APEC region’s business leaders that will share innovation insights, experiences, and inspiring stories are AirAsia CEO Tony Fernandes, Care.com Founder and CEO Sheila Marcelo, and Xurpas, Inc. President and CEO Nix Nolledo among many others.

President Benigno S. Aquino III will also grace the APEC SME Summit as keynote speaker.

Target outcomes of the APEC SME Summit are innovation partnerships between and among SMEs and innovators, network of APEC SME entrepreneurs and practitioners in the innovation space, and documentation of inspiring stories and recognition of successful SME innovators with transformative solutions and ideas.

The APEC SME Summit is part of the forum’s initiative to increase the participation of MSMEs in the global value chain.

The sector is the engine of growth and innovation in APEC. It comprises over 97 percent of enterprises in the region; over half of the total workforce in APEC member economies; 20 to 50 percent share to GDP; and contributes up to 35 percent of direct exports. (PNA)

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