Volume 26 No. 06 June 2015 Boracay Action Agenda on MSMEs supported The Philippine-led Boracay Action Agenda to Globalize MSMEs (micro, small, and medium enterprises) received an overwhelming support from the 21 ministers who Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting held in Boracay, Aklan on 23-24 May.
The Philippine-led initiative calls among APEC economies to provide MSMEs wider opportunities in the global or regional trade, Boracay Action Agenda either through global value chains Action Points 1. Facilitate the access of MSMEs to foreign programs (TTP) to include MSMEs in goods and services. trade agreements and regional trade order for them to contribute to security, agreements (FTAs/RTAs) by simplifying integrity, and resiliency in supply Department of Trade and and streamlining rules of origin chains. Industry (DTI) Secretary Gregory (ROO) procedural and documentary L. Domingo said the Philippines requirements and harnessing information 5. Support measures to widen options received “very good suggestions” technology (IT) to ease documentation from APEC trade ministers for and procedures. the infrastructure to facilitate lending the Boracay Action Agenda, which will be endorsed during the APEC 2. Streamline customs-related rules 6. Expand internationalization opportunities Economic Leaders' Meeting (AELM) and regulations and assist in the for MSMEs, providing goods and in November. compliance of MSMEs. services through information and communications technology (ICT) “That’s quite an accomplishment 3. Provide timely and accurate information and e-commerce. for the chairmanship of the on export and import procedures and requirements. 7. Strengthen institutional MSME support. Philippines. It’s very popular as 4. Widen the base of Authorized Economic 8. Strengthen focus on MSMEs led Operators (AEO) and trusted trader by women. Secretary Domingo said. The APEC has been pushing for They also called for the support “We are expecting it will be of the APEC Business Advisory in the past have focused on Council in pursuing action he said. improved participation of those to advance MSMEs’ participation already part of global value chains in global trade. !"!# and not on MSMEs. $ Secretary Domingo said the Philippines has proposed the setting areas for cooperation such as trade up of a trade repository and services % DTI-Bureau ! ! "! framework for APEC. of Import Services (BIS) Director and institutional support to address Luis M. Catibayan said. business barriers. June 2015 1 economic zones this year as the he said. country remains as an attractive location for business due to its INDUSTRY Even if markets in Europe, United favorable economic conditions and TRENDS States (U.S.), and China are sluggish, young talent pool, de Lima said. Ortiz-Luis is optimistic that the second-quarter growth could Last year, PEZA-approved FDIs rise 18% in February grow higher on the back of strong #:?+*XY! Foreign direct investments (FDIs) Association of Southeast Asian &+#; #:[+&7Y #$&7+ that entered the Philippines grew Nations (ASEAN) and Japan markets. by 18% in February 2015 from PHL signs global trademark deal the comparative month last year, “The electronics sector has been / \ ] indicating the continued operations performing well. It can carry the of the Philippines (IPOPHL) " $ ) * ) has signed a Memorandum of in the country, the &