MINISTERS from across the Asia-Pacific reaffirmed their commitment to bolstering small and medium enterprises (SMEs), which account for 97 percent of businesses and employ more than 950 million people in the region, during the 31st Apec SME Ministerial Meeting in Jeju, South Korea.
In a statement, Korean SME Minister Han Seong-sook called for “practical action” to help SMEs overcome challenges from global uncertainty, rapid technological shifts and the climate crisis. Ministers agreed on three priorities: fostering innovation through digital transformation and AI, enabling sustainable growth by helping SMEs adapt to demographic and climate pressures, and promoting inclusive growth by expanding access to regional and global markets.
The APEC Business Advisory Council urged stronger digital inclusion, financing and supply chain integration. Since 2019, Apec has invested nearly $14 million in 120 SME-focused projects, underscoring SMEs’ role as engines of jobs, innovation and resilience. / KOC