APEC leaders adopt
Philippine-led initiative on micro, small, medium enterprises
MANILA, Nov. 20 (PNA) -- The leaders of the 21 Asia-Pacific Economic
Cooperation (APEC) member economies on Thursday adopted the Philippine-led
initiative that aims to put micro, small and medium enterprises (MSMEs) at
the forefront of regional and global trade by 2020.
In their 2015 APEC Leaders' Declaration issued following their retreat, the
APEC leaders ordered their respective Ministers to implement actions laid
out in the Boracay Action Agenda and report their progress to them by 2020.
"We live in a connected world in which many goods and services are no longer
produced in one location but are the result of firms cooperating within and
across our borders," they said in their declaration.
By adopting the agenda created in Cebu by Trade Ministers, the APEC leaders
expressed their belief that this action will benefit consumers, create jobs,
and foster development.
"We need all our businesses, regardless of size, to connect to where
opportunities exist," the leaders said.
Aside from establishing connection within and across neighboring countries,
the 21 economies also plan to develop policies that take "full advantage of
global value chains (GVC) and encourage greater participation and added
value” for MSMEs.
They will also promote competition, entrepreneurship, and innovation through
"balanced intellectual property (IP) systems and capacity building".
The Boracay Action Agenda to Globalize MSMEs is an action-oriented
initiative that supports the APEC’s ongoing work to address the barriers
faced by MSMEs in international trade.
Through the agenda, member economies will facilitate micro and small
enterprises’ access to regional and global markets in the identified
priority areas for cooperation and action on trade facilitation, e-commerce,
financing and institutional support, including for women-led MSMEs.
The APEC leaders also decided to adopt the Services Cooperation Framework to
ensure that all the country's citizens benefit from and contribute to high
"We instruct our officials to develop a strategic and long-term Services
Competitiveness Roadmap in 2016 with the adoption of a concerted set of
actions and mutually agreed targets to be achieved by 2025. We appreciate
services-related initiatives, such as manufacturing-related services," they
said in the declaration. (PNA/PCOO-APEC Communications Team)