APEC members back PH-led Boracay Action Agenda

BORACAY, Aklan: A Philippine-led initiative that seeks to put the interests of micro, small and medium enterprises (MSMEs) “front and center” of global and regional trade has made significant progress following the conclusion of the 2nd APEC Senior Officials’ Meeting (SOM2) and Related Meetings held on Boracay island.

The Philippine proposal, called “The Boracay Action Agenda to Globalize MSMEs,” proposes a host of specific, concrete and practical interventions that APEC economies can implement to provide MSMEs wider opportunities to integrate into global or regional trade, either through global value chains (GVCs) or as direct exporters of finished goods and services.