55th APEC SME Working Group meeting sucessfully held in Hong Kong

The 55th Asia-Pacific Economic Cooperation (APEC) Small and Medium Enterprises Working Group (SMEWG) meeting, organised by the Trade and Industry Department, sucessfully concluded today (May 5). 

During the two-day meeting, around 100 delegates from APEC member economies and other guests had fruitful exchanges on issues concerning the development of Small and Medium Enterprises (SMEs) and actively participated in useful discussions on the SMEWG’s Strategic Plan for supporting SMEs in the Asia-Pacific region.

The Secretary for Commerce and Economic Development, Mr Algernon Yau, expressed his appreciation for the great efforts made by the SMEWG in addressing the pressing and emerging concerns related to the growth and recovery of SMEs.

“These efforts by the Working Group are particularly essential in the post-pandemic era, as new challenges and uncertainties remain ahead for SMEs. On the other hand, there are also numerous opportunities that will allow SMEs to flourish in the evolving business landscape. It is thus imperative to support SMEs in seizing these opportunities, and facilitate and foster their sustainable growth,” Mr Yau stressed.

Mr Yau added that Hong Kong, China was committed to supporting SMEs in their efforts to achieve a swift post-pandemic recovery and capitalise on new business opportunities. After the resumption of normalcy, Hong Kong, China has already staged several major international conferences and exhibitions, attracting tens of thousands of business travellers and tourists from around the globe.

In her welcoming remarks on May 4 morning, the Director-General of Trade and Industry, Ms Maggie Wong, underscored the significance of SMEs as the backbone of the economies in the Asia-Pacific region, stressing the vital importance of their vitality and business performance.

“With APEC economies’ unwavering commitment to supporting SMEs, the Asia-Pacific region as a whole will remain a vibrant and thriving hub for SMEs’ growth and prosperity,” Ms Wong added.

APEC is an intergovernmental forum comprising 21 economies in the Asia-Pacific region. The SMEWG is the main forum where APEC member economies exchange information, views, best practices and analysis concerning SMEs in the APEC region for the inclusive development of sustainable, resilient and innovative SMEs.