Action Plan To Promote Growth Of small And Medium Enterprises Announced

The APEC SME New Zealand 1999 meeting has successfully formulated an action plan to promote the growth of small and medium enterprises (SMEs) in the region, says the meeting's Chairman Max Bradford.

At the conclusion of the two-day meeting in Christchurch, Mr Bradford said there had been a strong shared understanding between Ministers and business of areas that needed to be addressed to help SMEs thrive.

"Ministers and business representatives acknowledged their joint responsibility to promote the growth and profile of SMEs, which are emerging as the engine rooms of the knowledge-based APEC economies of the future," he said.

"Ministers have recommended specific action in a number of areas that will further APEC aims of improving regional growth, living standards and job accessibility in the region."

Mr Bradford said that while much attention had been paid to APEC's work in dismantling trade tariffs, its future focus would be on removing non-tariff barriers, regulatory controls and high compliance costs for SMEs.

"Ministers have agreed to work closely with their own SMEs to identify regulatory and administrative barriers and compliance costs.

"They will report back directly with progress on this issue next year and will outline how they plan to address these impediments to free trade in the new Millennium," he said.

In addition, Ministers:

Directed the Policy Liaison Group to undertake a feasibility study on linking economies' data bases to provide exporters with a single access point for information on tariff and non-tariff requirements.
Supported a proposal to identify measures affecting trade and investment in education services and wanted the fast tracking of efforts to improve the mutual recognition of qualifications in the region.
Agreed to raise with APEC Finance Ministers the urgency of removing barriers to the competitive provision of financial services to SMEs, especially with respect to the marshalling of capital and the creation of venture capital funds.
Advanced a number of projects proposed by member economies, relating to business networks, E-Commerce, enhancing management performance and improving consumers information.
Mr Bradford said it was disappointing the Chinese delegation chose not to participate, but this did not prevent Ministers making significant progress.

"I will be communicating the outcomes of the Business Forum and the Ministerial meeting to China," Mr Bradford said.

"I look forward to China continuing to contribute to the ongoing work and progress that arose out of this conference.

"The holding of a Business Forum at the same time as the Ministers' Meeting had been an adventurous experiment for organisers, but had increased the effectiveness of the conference.

"Because of this the host of next year's APEC SME Meeting, Brunei Darussalam, would adopt a similar format," Mr Bradford said.