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MANILA - The Department of Trade and Industry on Tuesday said it will push for governments' support of SMEs during the 44th Asean Economic Ministers Meeting.
Trade Secretary Gregory Domingo, who is in Siem Reap, Cambodia for the meeting, told InterAksyon.com that the Philippine delegation will bring up “the importance of equitable economic development and the critical role of small and medium enterprises in equitable economic development for the future of Asean.”
The AEMM kicked off on Monday, with the economic ministers of the 10 Asean members - Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam - in attendance.
According to the Asean website, the region's economic ministers will also be holding dialogues with their counterparts from Australia, Canada, China, India, Japan, New Zealand, Russia, South Korea and the US.
“If you look at the partners attending the AEMM, you will realize that some of the most important economic powers are here. Asean is already a collection of 10 robust, promising economies. Together with China, India, the United States, Russia, South Korea, Japan, etc., you have the world’s biggest consumer markets, the world’s leading R&D bases, the world’s leading sources of raw materials, as well as the world’s richest sources for investment,” Asean secretary-general Surin Pitsuwan said in a statement.
“The message may not be totally new, but the fact remains that economic uncertainties hovering around the world, many will be watching here for answers. We may not be able to save the world single-handedly, but if we are able to maintain healthy robust growth in Asean and the Asia-Pacific, we will help to hold the ship together. We will provide the lead time for Europe to get back on its feet,” Pitsuwan said.
Asean deputy secretary-general Lim Hong Hin meanwhile cautioned member-countries against protectionism.
“As of 2011, Asean’s intra-trade had accounted for a quarter of our total trade. If you add our trade with key partners like China, Japan, the EU and the US, you are looking at a very important cornerstone of our healthy economic growth. That growth has helped to raise the living standards of many of our peoples, but there are many more who are waiting for their turn to enjoy the fruits of economic development. We cannot afford to fail them,” Lim said.
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