The "APEC MSME Marketplace" is an interactive repository of APEC activities and member economies' individual efforts as a tool to promote cooperation.
The "APEC MSME Marketplace" is an interactive repository of APEC activities and member economies' individual efforts as a tool to promote cooperation and linkages across MSMEs and other stakeholders with interest in MSME development. The initiative is an online portal which has the following functionalities: facilitating business matching for MSMEs, funders, innovation centers, incubators, and other stakeholders with interest on MSME development; providing information about international trade standards and regulations; disseminating information on available trade promotion assistance packages that APEC economies individually or collectively provide for MSME development and internationalization; and building networks and linkages among the MSMEs, academe, innovation centers, and other relevant stakeholders that have a shared interest to foster MSME participation in regional and global supply chains and markets may face as they participate in global trade.
The following pillars make up this portal:
Pillar 1: Facilitating business networking and matching involving MSMEs.
This pillar will allow MSMEs to leverage on the vast opportunities offered by international markets, including new niche markets; possibilities to exploit economies of scale, scope, volume and technological advantages; ways of spreading risks; lowering and sharing costs, and even affording improved access to finance. This pillar will seek to strengthen MSME participation, not only in local supply chains, but also in GVCs through long-term, value-driven partnerships with large enterprises (LEs) and small businesses. Through matching opportunities that will be made available by the MSME Marketplace, MSME participation in cross-border e-Commerce will also be promoted.
Pillar 2: Enhancing MSME Awareness and Feedback on Trade Regulations.
This pillar responds to the need of MSMEs for information on trade-related measures and standards by economy. There are several sources of this information such as the APEC Trade Repository (APECTR), the WTO International Trade Information Portal (I-TIP)2 and the International Trade Centre's Market Access Map or MacMAP3.
Another important functionality of this portal is that of providing MSMEs access to information on new NTMs. This facility will also allow MSMEs to share their views on proposed regulatory frameworks. This effectively serves as a consultation platform that allows governments/ international trade bodies to gain insights from MSMEs as basis for developing new policies that will be relevant and helpful to MSMEs. It also helps increase the transparency and promote inclusiveness in policy making.
Pillar 3: Improving Mechanism for Knowledge Sharing on Trade Facilitation, Business Support, Partnerships, and Capacity Building Activities for MSMEs.
This pillar will provide a platform for information sharing on key development and experiences of MSMEs in the context of global value chains, production and cross-border supply chains. This portal can help inspire partnerships, innovation, and linkages between MSMEs and LEs, thus increasing the potential and avenues for MSME internationalization. This will feature stories or cases featuring transformative partnerships on how MSMEs have been engaged by LEs and exporters in their value chains. This pillar will feature information on inclusive business models, cases of successful MSMEs export businesses, lessons extracted from successful experiences of internationalization and, cooperation among economies, between public and private sectors, and international organizations that helped hurdle barriers of MSMEs or advance their participation in global trade and value chain participation.