The Asia Pacific Economic Cooperation (APEC) economies have pledged to continue to help small and medium enterprises (SMEs) overcome the economic crisis and strengthen their capabilities to access global market opportunities.
Ministers and officials responsible for SMEs in the APEC economies made the commitment here on Friday at the APEC SME Ministerial Meeting.
They also reiterated the call by APEC leaders for member economies to continue prioritizing that resist protectionism while supporting capability building and access to financing for APEC SMEs.
Responding to the question on United States' moves to impose extra tariffs on Chinese steel pipes and tires at a press conference, Lee Yi Shyan, Singapore's Minister of State for Trade and Industry and Manpower, said that the ease of doing business are very important for SMEs' export. "All the economies know now that people are watching any form of protectionism measures," he said, adding that with the commitment of resisting protectionism being renewed during this meeting, "Any protectionism measures or contemplation of such measures will have to be carefully thought through."
Lee also said that the developing of SMEs has taken on even greater significance because of the economic crisis. "We need to find ways to strengthen the capabilities that can sustain their growth in the long term."
The ministers at the meeting also recognized that with signs of the global economy recovering, the focus now would be on policies and initiatives to help APEC SMEs become more resilient and to position themselves to seize new opportunities for growth.
They also welcomed the proposal by Singapore to study the concept and feasibility of setting up an APEC SME Market Research and Capability Development Center to coordinate efforts by member economies to help SMEs access global markets.
Twenty ministers and their representatives attended the APEC SME Ministerial Meeting which was held here from Oct. 8 to 9./.