The Asia-Pacific Economic Cooperation Business Advisory Council (ABAC) has recommended the establishment of a centre for micro, small and medium-sized enterprises to support the region’s development.

The recommendation came out at the end of ABAC’s two-day meeting in Bali, Indonesia on October 6 and will be submitted to APEC leaders for consideration at their on-going summit.

ABAC will also propose the making of a policy that looks to provide guarantee for small and medium-sized enterprises (SMEs) when accessing capital sources, especially Public Business Credit.

At present, SMEs in the region have yet received priority with almost all of them operating with limited access to capital sources, knowledge and power.-VNA