APEC economies expect more support for small businesses
Senior officials from the Asia-Pacific Economic Cooperation (APEC) economies wrapped up a meeting on Saturday, during which they focused on efforts to promote the recovery of the region's micro, small and medium enterprises (MSMEs).
The 28th APEC Small and Medium Enterprises Ministerial Meeting was held in Phuket under the theme of "Inclusive Recovery of APEC MSMEs through the Bio-Circular-Green (BCG) Economy Model and High Impact Ecosystem."
Considering small businesses as "the driving engine of the APEC economies," Thailand's Deputy Prime Minister Supattanapong Punmeechaow, who chaired the meeting, said "without their inclusive recovery, we will not be able to achieve resilient and balanced economic growth."
During the two-day meeting, officials agreed to continue to foster economic growth and help small businesses participate in the global economy. They will intend to improve the connectivity among APEC economies through digital resilience, which will help MSMEs prosper.
The officials also discussed ways to drive economic growth and support small businesses, including accelerating the adoption of the BCG economy model, encouraging inclusive digital transformation, giving MSMEs access to financing while restructuring debt, and helping them cope with the evolving market landscape.