APEC SME ministers ends consultation

BIG SKY, Montana, the United States, May 21 -- Asia-Pacific Economic Cooperation wrapped up its annual forum attended by Small and Medium Enterprises ministers in Big Sky, Montana on Saturday with consorted commitment for resolving the major barriers to trade for small businesses across the region.

The ministers agreed to embrace business ethics to enhance SMEs' competitiveness, promote SMEs' use of new technologies to reduce the costs of doing business, identify policies to support green SMEs and encourage green, innovative and competitive policies to create an entrepreneurial society.

The ministers agreed to explore the use of new technologies -- including cloud computing -- to increase efficiency and reduce SMEs' costs of doing business, aiming at holding in-depth discussions with SMEs at the straightway APEC SME Working Group meeting, November 3-4, in Bangkok, Thailand.

The senior officials from APEC member economies will submit concrete and pragmatic activities to APEC leaders at their November meeting in Honolulu, Hawaii. The measures will contain combating SME financing; lack of capacity for SME to internationalize; the need for an open and transparent business environment; and high transportation and related costs.