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HK Welcomes Outcomes of APEC SME Ministerial Meeting
A Hong Kong official welcomed the outcomes of the eighth APEC (Asia-Pacific Economic Cooperation) Small and Medium Enterprises (SMEs) Ministerial Meeting, which ended Thursday.
Director-General of Trade and Industry of Hong Kong Joshua Law, who led the Chinese Hong Kong delegation, said: "the meeting has facilitated cross fertilization of ideas on measures to help SMEs to develop and remain competitive. It has also fostered regional cooperation with a view to helping SMEs to build up capability, access information, upgrade technological know-how, and expand markets."
The meeting discussed proposals for helping SMEs in the Asia Pacific region to rise to new challenges in the new and knowledge- based economy, particularly in the areas of "advancing technological innovation," "facilitating financing," and " improving the environment for SME development."
New and on-going programs endorsed by ministers include the U.S. -initiated Voluntary Visitor Program for APEC SME Officials which aims to strengthen experience sharing among government officials on SME support, the Business Partnership Initiative for SMEs which aims to facilitate business matching between enterprises in the U. S. and other APEC member economies, and the organization of an International Cooperation Forum on Innovative Management Skills by Russia.
Commenting on the Business Partnership Initiative, Law said: " Globalization, advance in information technology, and increasing demand from customers have made it possible for companies around the world to carry out global sourcing of goods and services. If SMEs want to remain competitive in the new economy, it will be necessary for them to form strategic partnership with overseas SMEs and large corporations."
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