During the 27th APEC SME Ministerial Meeting, newly minted MEDAC Minister Tan Sri Haji Noh Omar represented the Malaysian delegation at the virtual event where he iterated the need for collaborative and inclusive efforts between public and private sector to boost economic recovery.
Adopting the theme, “Join, Work, Grow. Together”, the participating economies discussed and shared their best practices to strengthen SME resilience and build sustainable economic growth in APEC economies. There also shared on the need for economies to accelerate the adoption and adaptation to digital innovation if they are to progress into the realm of 4IR.
In his address the Minister added “Malaysia is of the view that Inclusive Business is key to build back the economy better and stronger. Therefore, the Government is promoting IB as avenue for addressing the needs of the B40 at scale, adding that, “Collaboration would be the driving factor for IB models as we bring together private and public sector entities as well as civil society to address today’s global challenges which requires creative approach about how best they can work together.”
APEC economies recognised the unparalleled disruption and remained committed to intensifying cooperation, capacity building, and the sharing of best practices.
In its joint statement, SME Ministers acknowledged the essential role of a free, fair, nondiscriminatory, transparent, predictable, and open trade and investment environment to enhance MSMEs’ and start-ups’ access to international markets and supply chains; to combat the impacts of the COVID-19 pandemic; and to enable a strong economic
recovery. In addition to supporting MSME wellbeing, the critical role of digital transformation, innovation and technology was also recognised in promoting MSME resilience and business continuity.
Conclusively, the SME Ministers stood united to deepen regional collaboration for a sustainable recovery of SMEs across the Asia-Pacific and committed to contribute to the APEC Putrajaya Vision 2040 for an open, dynamic, resilient and peaceful Asia-Pacific community by 2040.
