Seoul, Korea – Leaders in business from twenty-one economies of APEC have released recommendations for the direction of investments and trade for APEC. The directives will be presented to the APEC Ministers of Trade, Small Enterprise and Medium Enterprise before the scheduled meetings being held in Big Sky, Montana May 19-21. Four barriers of cross border trade for Small and Medium Enterprises have been identified as lacking capacity to internationalize, transparency of business environments, protection of intellectual property rights, limited access to finance.
APEC Business Advisory Council Chair, Deb Henretta was quoted as saying that Small and Medium Enterprises make up around ninety percent of all businesses, employ around sixty percent of the entire workforce but they only account for thirty percent of exports. She continued by saying that, “It is critical that APEC SME Ministers take strong action to help these companies to increase their reach across borders.”