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Ministers Redouble Efforts to Further MSMEs’ Empowerment, Inclusion and Growth
Issued by the 30th APEC Small and Medium Enterprises Ministerial MeetingCommitted to addressing the significant barriers in accessing global markets, formalizing operations, and adopting new digital technologies, APEC ministers responsible for micro, small, and medium enterprises across the Asia-Pacific convened in Pucallpa, a gateway city to Peru’s Amazon region, to further empower this important economic sector.
Micro, small and medium enterprises (MSMEs) account for over 97 percent of all businesses and employ over half of the workforce across APEC economies. Recognizing this significant contribution, ministers deliberated on actions and policy levers that will empower MSMEs to overcome obstacles and enhance their participation in global value chains.
“This year, we have defined clear priorities: to promote the integration of MSMEs into global markets, to support their transition to formality; and to promote their digitalization and innovation for sustainable development,” said Sergio González, Peru’s Minister of Production, who chaired the 30th APEC Small and Medium Enterprises Ministerial Meeting on Friday.
“This meeting, which is being held in the heart of our Peruvian Amazon, represents an invaluable opportunity to strengthen our cooperation for the benefit of MSMEs, which are fundamental to our economies,” Minister González added.
Minister González urged his counterparts to ensure that policies and actions taken by governments allow MSMEs to grow in an inclusive, digital and sustainable way, stressing that this will lead the way to greater prosperity in the Asia-Pacific region.
Addressing one of the largest challenges for MSMEs, ministers exchanged views on ways to support the transition from the informal to formal economy, with a focus on expanding access to financing and institutional support.
Ministers also considered efforts to enhance cooperation between MSMEs and larger companies, as well as collaboration with economic stakeholders to help them overcome market risks, looking at training programs and policies to facilitate the green transformation of MSMEs.
“We are constantly reminded that MSMEs are the backbone of our economies. Yet, there is so much we need to do empower them,” said Dr Rebecca Sta Maria, the executive director of the APEC Secretariat. “Empowering MSMEs translates into providing them with the skills and tools necessary to support them. Herein is APEC’s strength.”
“MSMEs will need to have the requisite skills, including marketing technical knowledge, familiarity with regulatory requirements, or the ability to translate commercial and product information into the language of buyers,” Dr Sta Maria added.
Digital tools and emerging technologies have been recognized as key tools to enhance MSMEs' productivity and access to broader markets, the meeting explored measures to promote the use of digital platforms, improve technological resources, and provide more specialized training.
“Business continuity of MSMEs must include ensuring digital preparedness and address the digital gaps within and between regions. This is more an imperative now with the increasing use of AI and machine learning,” Dr Sta Maria concluded. “Not keeping up with these developments means we risk exacerbating the digital divide.”
APEC Small and Medium Enterprises Ministers Issue Pucallpa Statement
Issued by the 30th APEC Small and Medium Enterprises Ministerial Meeting
Ministers responsible for small and medium enterprises from the 21 APEC member economies issued a joint statement reiterating their commitment to foster quality growth that brings benefits and greater health and well-being to all, including micro, small and medium enterprises.
The statement reflected discussions from the 30th APEC Small and Medium Enterprises Ministerial Meeting, held in Pucallpa, Peru on Friday, and chaired by Peru’s Minister of Production, Sergio Gonzalez.
View the Pucallpa Statement and accompanying Chair’s Statement.
The statement emphasized the need to assist the region’s micro, small and medium enterprises in transitioning from the informal to the formal economy by embracing digitalization and fostering innovation. Ministers also stressed the importance of financial inclusion, supporting access to financial services, and promoting responsible financial practices.
High-Level Dialogue on Mining Issued Lima Statement
Issued by the High-Level Dialogue on Mining
APEC ministers and officials responsible for mining concluded their two-day meeting on Wednesday by issuing a joint statement detailing renewed focus on mining as an important contributor to both the region’s energy transition efforts and sustainable economic growth.
View the Lima Statement on Mining and accompanying Chair’s Statement.
Chaired by Peru's Minister of Energy and Mines, Rómulo Mucho, ministers explored measures to promote sustainable investment in mining resources production and processing in order to support energy transitions.
Harnessing the Role of Sustainable Mining to Power Global Energy Transition
Issued by the High-Level Dialogue on Mining
Playing a pivotal role in driving the global energy transition, supplying the critical minerals and materials essential for clean energy technologies, officials convened in Lima to reaffirm their commitment to a more sustainable and innovative mining industry.
At the 2024 High-Level Dialogue on Mining chaired by Peru's Minister of Energy and Mines, Rómulo Mucho, officials discussed key challenges and opportunities in the mining sector, with a particular focus on innovation, inclusivity and the critical role of minerals in a low-carbon future.
“Mining has been an economic cornerstone for Peru and many of the economies represented here,” Minister Mucho said. “Throughout history, it has been a driver of growth and development, creating employment, generating tax revenues and significantly contributed to the trade balance.”
“Additionally, mining is crucial in transitioning toward a greener and more sustainable economy by providing essential minerals for clean technologies such as renewable energy and energy mobility,” Minister Mucho added.
The mining industry has been in the spotlight in recent years due to its role in providing the essential raw materials required for clean energy technologies such as lithium, cobalt, nickel and rare earth elements that are fundamental for manufacturing batteries, electric vehicles and storage systems.
A key focus of the dialogue was how the mining sector can contribute to the energy transition. As major producers and consumers of these minerals, APEC economies have a unique responsibility to lead global efforts in ensuring a sustainable supply chain for these resources.
Officials shared insights for leveraging science and technology to enhance the efficiency of mining operations while reducing environmental impacts. The discussion underscored the importance of government incentives in encouraging companies to adopt innovative and sustainable practices, which will contribute to a cleaner, safer mining industry.
Minister Mucho also emphasized the significance of promoting sustainable investment, driving innovation in the mining industry and addressing the challenges associated with artisanal and small-scale mining, stressing that these areas are crucial to ensure that the mining industry contributes positively to APEC economies.
Ministers acknowledged the need to integrate artisanal and small-scale miners into the formal economy and explored successful policies that promote corporate social responsibility within the mining industry, particularly in empowering women and engaging local communities.
“As the world moves toward greener economies, mining needs to continue to adapt to the new demand for sustainable practices,” said Dr Rebecca Sta Maria, the executive director of the APEC Secretariat.
“The global mining industry has experienced significant supply chain disruptions in recent years and these disruptions have affected the production and transportation of resources that are essential for industries like renewable energy and digital technologies,” Dr Sta Maria added. “The challenge is ensuring a secure, reliable, and sustainable supply of these resources to fuel the global energy transition.”
“This dialogue provides an invaluable opportunity for APEC to reaffirm its position as a dynamic platform for economies to share experiences, best practices and lessons learned in the mining sector, enabling us to collectively explore ways to maximize the benefits of mining activities while minimizing its environmental and social impacts,” Minister Mucho concluded.
“Through cooperation and knowledge exchange, we can tackle global challenge, ensuring that mining positively contributes to sustainable development.”
For further details, please contact:
Masyitha Baziad +65 9751 2146 at mb@apec.org
Michael Chapnick +65 9647 4847 at mc@apec.org
