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Kingdom pushes SME promotion

A view showing the virtual Apec Economic Leaders’ Meeting 2020, in Kuala Lumpur, Malaysia, on Friday. REUTERS

Thailand pushed for the promotion of smaller businesses and the development of service sector workers to address new normal challenges during a virtual Asia-Pacific Economic Cooperation (Apec) leaders’ meeting on Friday.

The meeting, hosted by chair Malaysia, was attended by leaders of Apec member states.

Prime Minister Prayut Chan-o-cha stressed during the meeting the importance of a multilateral trade system and cooperation among Apec members to promote fair access to Covid-19 vaccines and medicines when they become available.

On the meeting agenda were the progress of Apec’s Post-2020 Vision and measures to revive economies battered by the Covid-19 pandemic. The meeting also discussed the promotion of micro, small and medium-sized enterprises (MSMEs).

The meeting was scheduled to conclude last night with the signing of the 2020 Economic Leaders’ Declaration and the launch of the Post-2020 Vision.

The declaration would show Apec’s determination in handling the pandemic and rehabilitating respective economies. It is also expected to enhance fair trade, investments and increase participation in the digital economy. Post-2020 Vision is a policy document charting the direction of the region in the coming decades.

Apec members include the United States and Russia, among others. New Zealand will take the chair in 2021.

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