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9 Jun 2017

PH eyes APEC initiative on SME linkages

THE Philippines will soon roll out an initiative of Asia Pacific Economic Cooperation that aims to link small and medium enterprises and provide information on policies related to the sector. APEC Business Advisory Council Philippines Chairman Tomas Alcantara said the group’s first project would be in partnership with the Department of Trade and Industry to develop the Philippine SME Marketplace. The Philippine SME Marketplace will be designed like the APEC SME Marketplace. an interactive repository of information, and one of the components of the APEC Iloilo Action Initiative. The APEC SME Marketplace is an online platform that will promote cooperation and linkages amongmicro, small, and medium enterprises in order to access and tap into opportunities of global market by transacting with other players in the region. "ABAC Philippines’ first project will help advance MSMEs interests by developing a pilot Philippine SME Marketplace. We are trying to make concrete outcomes by facilitating linkages between SMEs and domestic market first, then to two or more international markets. After that to ASEAN, eventually to APEC, and then finally, the global market,” Alcantara said. He said that ABAC Philippines continued to push the MSME agenda in APEC. Alcantara also said that ABAC also continued to seek opportunities for MSMEs like tapping into available funds from Islamic banks in the region.