APEC SME Ministers Call for Greater Networking Between Business, Government, Trade Promotion Authorities and Banks

APEC SME MINISTERS CALL FOR GREATER NETWORKING BETWEEN BUSINESS, GOVERNMENT, 
TRADE PROMOTION AUTHORITIES AND BANKS
Media Release Issued by the Asia-Pacific Economic Cooperation (APEC)
Secretariat.

Chiang Mai, Thailand, August 8, 2003 -- The 10th Small and Medium
Enterprises (SMEs) Ministerial Meeting has concluded in Chiang Mai,
Thailand, with Ministers calling for Member Economies to strengthen networks 
between business owners, trade promotion agencies and SME focused financial 
institutions.

In the Joint Ministerial Statement, "Strengthening an APEC Entrepreneurial 
Society," Ministers highlighted the courageous and critical role played by 
SMEs and Micro-enterprises.

"The definition of an entrepreneur goes beyond the conventional meaning of 
business owner and operator and that risk-taking individuals are the driving 
force behind entrepreneurship," the statement noted.

"The development of a dynamic entrepreneurial society requires individuals 
who are innovative, visionary, and ready to take the risk of starting-up a 
new business.

"A vibrant entrepreneurial society is central to the growth of the APEC 
economies.  Substantial entrepreneurial activity generates demand for new 
services, products, and jobs."

Ministers also highlighted the challenges brought about by globalization and 
the role APEC member economies have to play in dealing with these pressures.

"To cope with the challenges of globalization, APEC economies should focus on 
developing networks among micro, small and medium enterprises (MSME) and 
promotional agencies, MSME banks and MSME associations.

"The entrepreneurial environment is directly affected by: regulatory and tax 
burdens; labor market legislation; competition policy and legal conditions. 
Each economy is encouraged to speed-up efforts towards the removal of 
barriers to entrepreneurial behavior and not to introduce regulations that 
overly penalize business failure."

In the Joint Ministerial Statement Ministers also highlighted the role of 
education in promoting business development and stressed the importance of 
Members identifying and developing entrepreneurial potential in their 
economies.

Ministers made particular note of the difficulties that are often faced by 
MSMEs in accessing finance and encouraged APEC Members to seek ways and means 
to expand financing facilities.

Ministers also encouraged APEC Members to be proactive in developing
capacity within their economies to build the capacity of SMEs to trade
beyond their borders and explore export markets.

The Ministers adopted the Micro-enterprise Action Plan that is designed to 
help the smallest businesses in the APEC region through expanding access to 
new technologies, improving access to finance and undertaking greater 
research into the challenges facing Micro-enterprises.

Ministers also expressed their ongoing support for the ongoing cooperation 
between the APEC SME Working Group and other APEC fora such as the APEC 
Sub-committee on Standards and Conformance, the APEC Finance Ministerial 
Meeting, SME Financing Institutions, the OECD and business sector groups 
including the APEC Business Advisory Council and the APEC Women Leaders 
Network.

The next APEC SME Ministerial Meeting will take place on October 6 to 7 in 
Santiago, Chile.  This will be preceded by an APEC SME Working Group meeting 
in Vancouver, Canada, on March 8 to 10 next year and the second SME Working 
Group meeting for 2004 in Santiago, on October 3 to 5.

The full statement is available at:
http://www.apecsec.org.sg/virtualib/minismtg/mtgsme2003.html 

# # #

For further information and contact:

Christopher Hawkins in Chiang Mai, Thailand, on +66 70 600 120 (Thai
Cellular), via +65 9179 4590 (Singapore Cellular) or E-mail:
ch@mail.apecsec.org.sg 

Sheryl Lowe at the APEC Secretariat in Singapore on +65 9617 7588
(cellular), +65 6775 6012 (office) or E-mail: sl@mail.apecsec.org.sg

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