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SINGAPORE: The business council advising APEC leaders is pushing forward a growth agenda to make it easier for SMEs to do business within member economies.
The Small and Medium Enterprises working group, under the APEC Business Advisory Council, met on Tuesday to discuss how to develop capacity and global connectivity for SMEs.
More SMEs are now using resources such as the internet to cut costs and expand business in the downturn.
But as global economies start picking up, experts said more will be needed to help SMEs deal with trade barriers when venturing overseas.
Participants at the APEC Business Advisory Council said that SMEs are looking to get a bigger voice within the grouping.
This is because they form about 60 to 70 per cent of the world economy.
Jack Ma, CEO & chairman, Alibaba Group, said: “We want every society and every layer of the society to pay attention to SME especially next year. And I think next year is going to be a critical year for the world economy infrastructure of the economy.
“I think we should not only talk about how important SMEs are, but we need to focus on what actions we should do for the SMEs.” - CNA/vm
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