MAKATI CITY, June 24 — The Philippines, through the Department of Trade and Industry (DTI) sponsored workshops last June 8 and 9 in Atlanta, USA to develop small and medium enterprises (SMEs) through the Global Supply Chain Event.
The workshop, which brought together 350 SMEs from 21 APEC-member economies, was the proponent in facilitating SMEs trade through better understanding of non-tariff measures (NTMs) in the Asia Pacific Region and APEC SME Business matching and Internship Consortium for Global Value Chain (GVC) Integration,DTI said in a statement.
After the NTM workshop in the United States, another workshop will be held in Iloilo in September to further strengthen and deepen regional economic integration and eliminate barriers to trade and investment in the region by improving the capacity of SMEs and key organizations in understanding NTMs and its impact on trade.
“We are all aware of the importance of SMEs in the APEC region and we also know the great potential to further increase the sector’s economic contribution if these SMEs are able to participate more actively in regional and global trade,” Usec. Maglaya said.
In a 2013 World Bank study titled, “Enabling Trade Valuing Growth Opportunities,” it emphasized that reducing supply chain barriers to trade could increase gross domestic product (GDP) up to six times more than removing tariffs.