Phl SME Business Expo draws in 40 foreign groups

MANILA, Philippines - Several foreign business groups have sent their respective delegation to the country’s small and medium enterprise (SME) trade show to look for opportunities and establish partnerships with local businesses.

David Abrenilla, founder and managing director of the Philippine SME Business Expo, said on the sidelines of the opening of this year’s edition of the expo that some 40 foreign business groups have sent their respective delegation to the show.

The delegations are composed of businesses engaged in various sectors such as food manufacturing, technology, business process outsourcing and wellness.

“They want to observe what businesses are here and to look at opportunities for partnerships,” Abrenilla said.

As the Association of Southeast Asian Nations (Asean) establishes an economic community, Abrenilla said it is important for Philippine businesses to prepare in order to take advantage of opportunities.

The Philippine SME Business Expo 2014, which opened on Friday and will run until today (Sunday), at the SMX Convention Center in Pasay City, is a venue to help local businesses get more information to prepare for the Asean economic integration as well as to meet with potential partners.

The expo is organized by trade marketing company Mediacom Solutions, Inc. with the support of the Department of Trade and Industry, Intellectual Property Office of the Philippines, Philippine Export-Import Credit Agency, Global Entrepreneurship Week, Philippine Software Industry Association, Supply Chain Management Association of the Philippines, Young Entrepreneurs Society and the Filipino International Franchise Association.

“We aim to put together under one roof SME business owners, senior level executives, professionals, government agencies, trade associations from the Philippines and the Asean region to collaborate in order to boost businesses and the Philippine economy at large,” Abrenilla said.

He said Filipino businesses are encouraged to forge partnerships with foreign as well as  local businesses to better take advantage of opportunities offered by the AEC.

He said Filipino businesses need to work with government agencies to get better access to other Asean markets.

The Asean Economic Community (AEC), to be established by the end of next year, seeks to create a region with free flow of goods, services, skilled labor, investments and capital.

The AEC is seen to open opportunities for businesses as the region is set to become among the largest economies in the world with a combined consumer market of over 600 million people.