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PHILIPPINES PARTICIPATES IN 2017 WTO PUBLIC FORUM FOR THE 3RD YEAR; INTEREST ON MSMES CONTINUES

Geneva, Switzerland – The Philippines, through the Philippine Trade and Investment Center – Geneva (PTIC-Geneva), together with 49 other WTO members who comprise the group “Friends of MSMEs” co-organized a working session in the 2017 WTO Public Forum entitled “The Case of MSMEs In Inclusive Trade For Sustainable Development”.

Undersecretary Zenaida C. Maglaya of the Regional Operations Group of the Department of Trade and Industry represented the Philippines. She was joined by Undersecretary Shunko Rojas of Argentina, Executive Director Arancha Gonzalez of International Trade Center (ITC), Senior Director Anabel Gonzalez of World Bank (WB), and Advisor of International Telecommunication Union (ITU) as co-panellists.

“The significance of micro small and medium-sized enterprises (MSMEs) as major economic drivers is beyond question. Their sheer number is overwhelming, as they account for over 95% of all enterprises in most countries,” Undersecretary Zenaida Maglaya, Regional Operations Group of the Department of Trade and Industry said during the WTO Public Forum working session. “In a globalised world, there is a growing number of MSMEs who supply the export market either directly or indirectly by being involved in the production of parts and components for regional and global value chains serving large producers locally or abroad.”

Ms Arancha Gonzalez of ITC underscored that “when MSMEs internationalise, they become more competitive and provide better quality jobs. However, their topmost obstacle is good quality trade data. We also need to build more inclusive value chain for MSMEs. This starts at the level of trade agreements, expanding regionally and even multilaterally. Another opportunity for MSMEs is electronic commerce – it is the best ecosystem for MSMEs to internationalise without intermediaries, thereby capturing the trade value for itself.”
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 (Source: DTI Website)

 Date Posted: October 18, 2017