APEC: Fostering Greater SME Participation in Global Value Chains Resources 2023
Sponsoring Economy:
Australia
Co-sponsoring APEC economies:
Chile; Hong Kong, China; Peru; Chinese Taipei; United States
Many SME exporters are not fully utilising available technologies that would ease trade, reduce costs, build stakeholder-trust, and enhance demonstration of good ESG (environment, social and governance) practices. Adopting such technologies would, however, make them more competitive in global markets, and support them to grow sustainably.
Building on Phase One, the purpose of this initiative ‘Fostering Greater SME Participation in Global Value Chains Phase 2: Digitalisation and Utilisation of Emerging Technologies’ (CTI 01 2023S) is to improve the opportunities for SMEs to engage in international trade and GVCs using digital technologies. Greater participation in GVCs may provide SMEs with an additional channel to grow their markets and increase their productivity. The project seeks to build awareness and encourage adoption of digital technologies by SMEs that could improve business efficiency, engagement with customers, and enhance their overall competitiveness when operating in international markets