The APEC Forum on Promoting Specialized and Innovative Development of SMEs was held on the morning of June 26, as a sub-event of the ongoing 18th China International Small and Medium Enterprises Fair (CISMEF) and the 2nd SME International Cooperation Summit (SMEICS), which are ongoing in Guangzhou.
"SMEs are the largest group of enterprises in the Asia-Pacific economy, contributing to promoting innovation and employment," Xu Xiaolan, Vice Minister of Industry and Information Technology of China, addressed at the forum.
She pointed out that SMEs are a vital engine to fuel economic development in the Asia-Pacific region. She suggested addressing the problems SMEs encountered in financing, business environment, intellectual property rights, and scientific and technological innovation.
(Ewon Benedic, Minister of the Ministry of Entrepreneur Development and Cooperative of Malaysia)
Ewon Benedic, Minister of the Ministry of Entrepreneur Development and Cooperative of Malaysia, echoed that MSMEs are the engines of growth in APEC regions. In fact, MSMEs contribute to 38.2 percent of Malaysia's GDP.
"MSMEs have been identified as game-changers that will be transformed into Malaysia's new drivers of growth, with 90 percent of Malaysia's MSMEs to digitalize their business," said Benedic.
He also indicated that a number of MSMEs in Malaysia are still facing challenges of digitalization, such as unaffordable costs and a lack of technology. He stated that Malaysia would be committed to working closely with other APEC economies in promoting a favorable environment for MSMEs to grow.
Veerapong Malai, Director-General of the Office of SMEs Promotion of Thailand, told GDToday that Thai SMEs are looking for more cooperation with China, especially in agricultural and post-processing industries. "We hope to learn high-tech from China and explore the global market with Chinese counterparts."
"95 percent of Mexican enterprises are SMEs. The possibilities are huge," said Victor Cadena, Vice Executive Chairman of the Mexico Chamber of Commerce in China, at the International Forum on SME Industry Chain.
Cadena stated that the year-on-year growth of bilateral trade between China and Mexico was more than 10 percent last year, which was a record high. More Guangdong enterprises invested in factories in Mexico in the fields of minerals, machinery, ceramics, fertilizers, seafood, electronics, and electric vehicles, while more Mexican enterprises have businesses in Guangdong for both trading and manufacturing.
"Canada and China have tremendous opportunities in such areas as financial services, education, and large-scale agricultural exchange, which are the solid, fundamental underpinnings of our trading relationship," said Noah Fraser, Managing Director and Chief Representative of the China Region, Canada China Business Council.
He pointed out that the major trend over the last several years has been the emergence of e-commerce, which is a huge opportunity for SMEs entering China.
Reporter丨Nina, Jasmine
Video丨Qin Shaolong, Zhang Tianxiong
Editor丨Olivia, Steven, James
