Asia-Pacific Economic Cooperation (APEC) will be hosted once again in Manila after 19 years. The event will culminate with the APEC Economic Leaders’ Meeting on November 18-19. Of course everyone is excited because for most of us it will be a long Holiday specially for government workers and students but what can we specially business gain from APEC 2015?
“Building Inclusive Economies, Building a Better World“, is this year’s APEC theme. It means that APEC is looking into how can Miscro Small and Medium Enterprises (MSMEs) can benefit from trade liberalization and be given greater access to tools than can help them become successful.
In the Philippines majority or business enterprises belong to this sector, thus it means a brighter future for the sector. MSMEs major problems includes access to financial support and capital, and access to the larger and global market among others. Although there is a high hope that things could be settled at APEC, it might still be better said than done.
Besides giving greater access to MSMEs various countries of APEC are also very curious on how the Philippines manage to grow 3 folds when it last held the APEC Summit in 1996. According to an article published by Rappler, “The APEC Business Advisory Council says larger economies are curious about the country’s growth story.”
APEC will give the Philippines a chance to learn from other countries and participate in creating policies that will help bring down tariffs and make sure that the free flow of good will benefit not only big businesses but will also trickle down to smaller businesses.
Here is the a video from Rappler which features APEC Business Advisory Council’s Jaime Augusto Zobel de Ayala,Tony Tan Caktiong, and Guillermo Luz.
Do you think APEC can help Micro Small and Medium Enterprises? Share us your thoughts.