Senior officials from Asia-Pacific Economic Cooperation (APEC) economies concluded a meeting on Saturday in which they focused on efforts to promote the recovery of micro, small and medium-sized enterprises (MSMEs) from the region.
The 28th APEC Ministerial Meeting on Small and Medium Enterprises was held in Phuket under the theme “Inclusive recovery of APEC MSMEs through Bio-Circular-Green Economy (BCG) model and high-impact ecosystem”.
Calling small businesses “the engine of APEC economies”, Thai Deputy Prime Minister Supattanapong Punmeechaow, who chaired the meeting, said that “without their inclusive recovery, we cannot achieve sustainable economic growth and balanced”.
During the two-day meeting, officials agreed to continue fostering economic growth and helping small businesses participate in the global economy. They intend to improve communication between APEC economies through digital responsiveness, which will help MSMEs to thrive.
The officials also discussed ways to boost economic growth and support small businesses, including accelerating the adoption of the BCG model of economy, encouraging inclusive digital transformation, giving MSMEs access to finance while restructuring debt, and helping them cope with the changing market landscape.
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