DTI strengthens agenda on MSMEs

MANILA, Philippines – The Department of Trade and Industry (DTI) said it intensifies its work on incorporating the micro, small and medium enterprises (MSMEs) agenda in its trade and investment promotion efforts through its various commercial posts overseas.

In a statement, Trade Undersecretary Zenaida Maglaya said the DTI continues to strengthen its support in the internationalization of MSMEs.

Maglaya said the DTI is aggressively working on bringing MSMEs as active participant and eventually be part of the global value chain (OVC) and not just as direct exporters.

“We should not lose the opportunity of joining the bandwagon in pushing for MSMEs development,” Maglaya said.

“In the Boracay Action Agenda, we are talking about how do we really put them (MSMEs) front and center of regional and global trade. So, we look into significant contributors of economic growth, trade, employment, poverty alleviation, and innovation,” she added.

Maglaya said it is important to look at inclusive growth, globalize MSMEs, and address barriers to trade and investment, including tariffs and non-tariff barriers to promote the internationalization of MSMEs and integrate them into global value chains.

“In the SME Ministers Meeting, we had the Iloilo Initiative which is supposed to be guided by the Boracay action agenda. We now have to come up with very specific action initiatives or projects that will see through the Boracay Action Agenda,” Maglaya said.

“With the Iloilo initiative, we talked about building linkages, promoting knowledge sharing, adopting a holistic view of GVCs toward strengthening trade and investment linkages among MSMEs and big business,” she said.