Malaysian exec wants APEC leaders to address financial needs of MSMEs

Malaysia has encouraged Asia-Pacific Economic Cooperation (APEC) economies to set up a collaborative platform that addresses the financial needs and supports micro, small and medium-sized enterprises' (MSMEs) participation in international trade transactions. Chief Secretary to the Government Tan Sri Mohd Zuki Ali said MSMEs are the backbone of most APEC economies, representing an estimated 95% of global businesses and accounting for some 60% of employment across economies at all levels of development. Mohd Zuki said Malaysia wishes to underscore the importance of APEC Business Advisory Council's recommendations to the leaders. Mohd Zuki added that APEC is strategically positioned to not only complement the ongoing work undertaken at the World Trade Organisation, but also to explore and develop MSMEs-related initiatives that go beyond the ambit of the multilateral trading system.