Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


APEC Launches Micro Enterprise Trading Platform

APEC Launches Micro Enterprise Trading Platform

Issued by the APEC Small and Medium Enterprise Working Group

Singapore, 25 September 2017 – APEC has introduced a new business-to-business platform for enabling cross-border trade among underrepresented but economically vital micro, small, and medium enterprises in the Asia-Pacific.

The APEC Micro, Small and Medium Size Enterprise Marketplace showcases small firms from APEC member economies and helps to connect them with compatible production and supply chain partners. It also details tariffs and trade regulations as well as provides a portal to support services to help small businesses in the region build their trading operations.

“There are a huge range of market opportunities for micro enterprises all around the Asia-Pacific, particularly with advances in mobile technology and e-commerce,” said Philippine Trade and Industry Secretary Ramon M. Lopez, who announced the opening of the platform endorsed by APEC SME Ministers.

“The APEC Marketplace will make it easier for small businesses to trade and, in the process, boost their competitiveness and growth capacity in the region,” continued Secretary Lopez. “The benefits of wider participation in trade could be very significant for APEC economies and our people’s livelihoods.” (VIDEO: Secretary Lopez on the Value of Small Business Trade)

The platform caters to small firms that account for nearly all businesses and the majority of employment in the APEC region, and have substantial room for export growth. They range from handicraft suppliers in Luzon, to auto and machinery parts producers in Ohio, Nagoya and Ho Chi Minh City, to coffee growers and processors in the highlands of Papua New Guinea.

APEC economies aim to grow the APEC Marketplace’s directory of small businesses with export potential and, in turn, open up market opportunities for these firms in the Asia-Pacific through business matching with companies seeking value-adding goods and services suppliers.

It is part of APEC’s implementation of the Iloilo Initiative for growing global micro, small and medium enterprises, endorsed by the region’s SME Ministers there in 2015 and supported by parallel efforts underway to unlock small business trade. (VIDEO: APEC Committee on Trade and Investment Chair on Integrating SMEs in Services Trade).

“Micro enterprises have to be interconnected with the rest of the world on account of the fact that it has become one village. We don’t want small businesses and the communities that depend on them to be left behind,” explained Papua New Guinea’s Trade, Commerce and Industry Minister Wera Mori.

“Now that we are in the digital age, people must be enabled to come out from local areas and export what they can produce domestically out to markets in the Asia-Pacific and beyond,” he concluded. “We are working in APEC to help people find formal employment through small businesses that are developed and integrated.” (VIDEO: Minister Wera on Inclusive Trade)

Users of the APEC Micro, Small and Medium Enterprise Marketplace are encouraged to provide feedback at this linkto improve the platform in line with the region’s evolving trading conditions.

APEC Ministers and officials will take complementary steps to facilitate women’s entrepreneurship and small business trade during the APEC Women and the Economy Forum in Hue City, Viet Nam on 26-29 September.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Federated Farmers: NAIT Levy Increases Must Achieve Accurate, User-friendly System
Nobody welcomes extra costs but if OSPRI is to catch-up on under investment in the NAIT platform and deliver on its workability and farmer support, levy increases are probably necessary, Federated Farmers says... More>>

Westpac: More Job Opportunities, But Growth In Workers’ Earnings Remains Subdued

The Westpac McDermott Miller Employment Confidence Index rose 1.2 points in the December quarter, to a level of 106.9. This was the sixth straight rise in the index since the Covid-19 lockdown in 2020. Michael Gordon, Acting Chief Economist for Westpac, noted that the rise in the index has largely been driven by perceptions... More>>

Statistics: Card Spending Continues To Increase As COVID-19 Restrictions Ease

The busy Christmas period combined with easing COVID-19 restrictions helped to increase card spending in December 2021, Stats NZ said today... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>

Insurance Council of New Zealand: September South Island Windstorm Cost $36.5 M Raises 2021 Extreme Weather Claims Total To $321.6 M

Gale force winds and storms between 9 and 13 September 2021 resulted in insurers supporting communities to the tune of $36.5 m. This is a significant rise, of $16.7 m, on preliminary figures for the event and lifts the end of year total for all extreme weather events in 2021 to $321.6 m... More>>

Statistics: Building Consents Hit New Highs In November
There were a record 48,522 new homes consented in the year ended November 2021, Stats NZ said today. This was up 26 percent compared with the year ended November 2020... More>>