The APEC Business Advisory Council (ABAC) has called on APEC to set up a centre supporting small, micro and medium-sized enterprises (SMMEs) in the region to promote economic development.

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

The centre will use advanced technology to facilitate trade and ensure the efficiency of e-commerce system.

Vice Chairman for APEC Small Medium Enterprises Entrepreneurs, Erwin Aksa, stressed that SMEs had played an important role in promoting regional and global economic growth in the future.

ABAC will also propose the drafting of a policy that guarantees SMEs access to capital sources, especially Public Business Credit, he added

Meanwhile, Chairman of the ABAC SMME Working Group, Juan Raffo, said it is necessary to facilitate SMMEs’ access to capital resources, while providing them with the requisite consultancy to help promote their business.-VNA