Hanoi (VNA) – The Asia-PacificEconomic Cooperation (APEC) has introduced a new business-to-business platformto enable cross-border trade among micro, small and medium-sized enterprises (MSMEs) inthe region.

The APEC Micro, Small and Medium Size EnterpriseMarketplace showcases small firms from APEC membereconomies and helps connect them with production and supplychain partners.

It also details tariffs and trade regulationsand provides a portal to help small businesses in the region conducttransactions.

Philippine Trade and Industry Secretary RamonM. Lopez said the marketplace will make it easier for APEC small businesses totrade and thereby boost their competitiveness.

The platform caters to small firms thataccount for nearly all businesses and the majority of employment in the APECregion, most of which have substantial room for export growth, he said, addingthat they range from handicraft suppliers in Luzon and auto and machinery partsproducers in Ohio, Nagoya and Ho Chi Minh City, to coffee growers andprocessors in the highlands of Papua New Guinea.

APEC economies aim to grow the APEC marketplace’sdirectory of small businesses with export potential and, in turn, open upopportunities for firms in Asia-Pacific through business matching withcompanies seeking value-added goods and services suppliers.-VNA