APEC Peru 2024: Foreign Trade Min promotes dialogue to foster MSMEs growth

Photo: Ministry of Foreign Trade and Tourism of Peru

Photo: Ministry of Foreign Trade and Tourism of Peru

09:52 | Arequipa (Arequipa region), May. 14.

Within the framework of activities held at the Asia-Pacific Economic Cooperation (APEC) forum, Peru —through the Foreign Trade and Tourism Ministry (Mincetur)— led a policy dialogue to promote development and internationalization of micro, small, and medium-sized enterprises (MSMEs) across the Asia-Pacific region.

At the event, titled "CTI Policy Dialogue on Promoting Inclusive Trade to Foster MSME Growth and Transition to the Formal Economy," experts discussed the importance of inclusive trade for the economic growth of the bloc's economies.

They also exchanged experiences and best practices in terms of policies and programs to support the participation of MSMEs in international trade, as well as in global and regional value chains.

As part of this event, the Peruvian delegation presented the initiative known as Productive Exports Route (RPE), a multi-sector strategy led by Mincetur, in collaboration with the Ministries of Production and Agrarian Development-Irrigation.

This strategy seeks to increase the competitiveness and internationalization of exporting MSMEs and those with export potential as a good practice to enhance the provision of productive development-exporter services, highlighting their results and progress in their implementation.

In particular, it was highlighted that the RPE has been working with 315 MSMEs and producer organizations in 14 Peruvian regions, such as: Junin, San Martin, Piura, Cajamarca, Huanuco, Lambayeque, Amazonas, Cusco, Puno, Ancash, Ucayali, Pasco, Ayacucho, and Tumbes; through which 50,000 families will benefit from coffee, cacao, mango, banana, and Andean grain chains.

"In Peru, 68% of all export companies are MSMEs. Nonetheless, they account for merely 3% of total exports value. Promoting their development will contribute to boosting the economy and generating decentralized formal employment," said Mariella Amemiya, Director General of Foreign Trade Development Policies at Mincetur.

The dialogue session also featured a panel of experts in which the importance of inclusive trade and MSMEs transition from informal to formal economy was discussed.

This event was held in the southern city of Arequipa on May 12. It was attended by representatives of 18 member economies, APEC Secretariat officials, as well as representatives of the APEC Business Advisory Council (ABAC) and the Pacific Economic Cooperation Council (PECC).

At the end of 2024's first quarter, trade between Peru and APEC economies reached US$17.893 billion. In that period, a total of 3,396 MSMEs exported goods (10.9% year-on-year compared to the same period in 2023).

Peru is hosting APEC for the third time after the 2008 and 2016 editions.


Publicado: 14/5/2024