NZIBF’s submission to MFAT on the New Zealand UAE Comprehensive Economic Partnership Agreement Negotiations.
Remarks by ABAC Inclusion Working Group Chair, Julia Torreblanca, to the APEC SME Ministerial Meeting, 9 October
APEC BUSINESS ADVISORY COUNCIL
REMARKS TO APEC SME MINISTERIAL MEETING
9 OCTOBER 2021
JULIA TORREBLANCA
CHAIR, ABAC INCLUSION WORKING GROUP
Honourable Stuart Nash, Chair of the APEC SME Ministerial Meeting
SME Ministers from the APEC Region,
Colleagues from the APEC Business Advisory Council,
Representatives of all the 21 APEC economies,
Good afternoon,
It’s a great honor for me to be addressing the APEC SME Ministerial Meeting today in my capacity as Chair of the ABAC Inclusion Working Group.
On behalf of all my ABAC colleagues, I’d like to make use of these few minutes to report on our work during this year and the main topics that we – as business representatives – find critical for the sustainability and growth of micro, small and medium sized enterprises (MSMEs).
MSMEs are and will remain a source of economic and social progress throughout region.
They represent roughly 97% of all businesses in APEC and provide over half of employment.
By supporting MSMEs, we are supporting millions of families, contributing to the development of entrepreneurial communities and fighting against poverty with the most powerful tools available: the creation of opportunities and social capital.
Giving MSMEs new opportunities and greater support is not optional, but essential – especially as the COVID-19 pandemic has badly hit these businesses, presenting them with novel challenges that include reduced cash flows and a widening digital divide.
Under our overarching theme of “People, Place and Prosperity – Tāngata, Taiao me te Taurikura”, we in ABAC have focused on three key areas we would like to bring to the attention of the SME Ministers today, with the aim of creating a more enabling environment for MSMEs and strengthening the collaboration among different groups across the APEC fora.
You have before you our written advice which I would like to summarise.
First, we would like to highlight the importance of boosting digital transformation in the region.
The COVID-19 pandemic has accelerated the digitalization of business models and the business environment by around a decade in our region.
However, small business lag behind larger enterprises when it comes to digital processes, business models such as e-commerce, and digital tools that help firms to be more productive and innovative.
Many small businesses lack the skills and confidence they need.
We accordingly urge APEC economies to develop a new digital ‘one stop shop’ platform to enable MSMEs to access the best that the region can offer in digital capability-builiding throughout their digitalization journeys.
Both governments and private sectors can contribute resources to this platform.
That platform could perhaps replace the current, poorly resourced APEC SME Marketplace.
As it currently stands, the Marketplace falls short of its potential and does not serve MSMEs as well as we need it to at this challenging time.
While it is true that empowering MSMEs with new skills and knowledge will provide them with better opportunities and greater competitiveness in local and international markets, they will not be able to obtain the full benefit without a more business-friendly environment.
ABAC urges APEC economies to focus its work in three areas in particular .
First, we need to help small businesses to make use of digital tools – specifically e-invoicing.
E-invoicing can make a real difference in the cashflow and back-office operations of small businesses, allowing them to focus on growing their businesses rather than chasing outstanding payments.
However, this will require economies to collaborate on standards, regulations, and policies to enable e-invoicing to operate seamlessly across the region.
We also need to encourage businesses to adopt this tool.
This is complemented by our second area of focus: seeking to create a more interoperable digital environment more generally.
Currently, the digital landscape is fragmented in the Asia-Pacific region with different standards, policies and regulations across the 21 economies.
We can help small businesses to be more successful if we streamline our approaches to paperless trade, e-signatures and the tax treatment of low-value e-commerce shipments.
Lastly, we have proposed the sharing and promotion of other best practices in support of MSMEs.
We are proposing targeted APEC-wide research that help policymakers to identify just what these best practices are, and tailor their interventions accordingly.
One very practical area where policymakers should take action is in relation to timely payments to MSMEs.
A payment may only be a modest impost on a big firm or a government finance department, but may be critical to the survival of a small business.
We urge APEC economies to commit urgently to establish timely payment policies for all government purchases, and to encourage and facilitate their business community to make the same commitment.
We applaud those APEC economies who have already made this commitment.
Ministers, this year ABAC has had a strong focus on MSMEs and inclusion under the great leadership of our New Zealand colleagues.
You heard from our Chair Rachel Taulelei earlier about our work in respect of the empowerment of women and Indigenous people.
We hope that the recommendations I have outlined will contribute to your continuing attention to the sustainability of MSMEs in the years to come.
Thank you for inviting us today to report on our work and for teaming up with us in benefit of those smaller businesses that need it the most.
Thanks again and good afternoon to you all.
REGISTER WITH TRADE WORKS
Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.
Latest News
SUBMISSION TO THE MINISTRY OF FOREIGN AFFAIRS AND TRADE – APRIL 2024
NEW ZEALAND-UAE COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT NEGOTIATIONS This submission is made on behalf of the New Zealand International Business Forum (NZIBF), whose members are listed at Annex A[1]. NZIBF is a forum of senior business leaders working together...
NEW TEAM FOR AUSTRALIA NEW ZEALAND LEADERSHIP FORUM
Media release, 2 April 2024 The New Zealand Co-Chair of the Australia New Zealand Leadership Forum (ANZLF), Greg Lowe, welcomes the appointment of Stephen Jacobi and Simon Le Quesne to the New Zealand arm of the ANZLF Secretariat. The ANZLF brings business leaders,...
NZ/EU FTA A BONUS FOR SOME SECTORS – BUSINESS FORUM
Media release, 22 March 2024 The NZ International Business Forum (NZIBF) acknowledges the passage of the implementing legislation for the New Zealand/European Union Free Trade Agreement and looks forward to the FTA’s entry into force on 1 May. “This agreement was...
“MEAGRE OUTCOME” FROM WTO IN ABU DHABI – BUSINESS FORUM
Media release, 2 March 2024 Despite its overwhelming importance at the heart of the international trade system, members of the World Trade Organisation (WTO) have concluded their Ministerial in Abu Dhabi (“MC13”) with only a meagre outcome. NZ International Business...
To go or woe with the WTO?
We’ve been here before with the World Trade Organisation (WTO). The global trade body’s 13th Ministerial meeting (“MC13”) opens in Abu Dhabi on Monday 26 February, with Trade Minister McClay serving as Vice-Chair. In recent weeks diplomats, trade...
DCANZ – Agricultural Subsidy Distortions Must Be Addressed
23 February 2024 - Media Release by the Dairy Companies Association of New Zealand (DCANZ) As the world’s Trade Ministers head to a WTO meeting in Abu Dhabi, the Dairy Companies Association of New Zealand (DCANZ) is calling for an immediate capping of agricultural...
Asia-Pacific business leaders call for greater economic dynamism with people at the center of the APEC agenda
16 February 2024 - APEC NEWS RELEASE Issued by The APEC Business Advisory Council (ABAC) The APEC Business Advisory Council (ABAC), meeting this week in Kuala Lumpur, Malaysia, expressed deep concerns about the growing pressures of economic fragmentation and the risks...
SUBMISSION TO THE PARLIAMENTARY FOREIGN AFFAIRS, DEFENCE AND TRADE COMMITTEE – FEBRUARY 2024
NEW ZEALAND EUROPEAN UNION FREE TRADE AGREEMENT LEGISLATION AMENDMENT BILL Introduction and Summary This submission is made on behalf of the New Zealand International Business Forum (NZIBF) and Export NZ. NZIBF is a forum of senior business leaders working...
ABAC Statement on WTO MC13 – February 2024
Now, more than ever, the world needs a credible, relevant, and effective multilateral trading system, with the World Trade Organization (WTO) at its core. In this era of global challenges, the APEC Business Advisory Council (ABAC) recognizes that the WTO is...
Global Industry Statement on the WTO Moratorium on Customs Duties on Electronic Transmissions
NZIBF has joined 170 international business associations in calling for an extension to the current moratorium on tariffs applying to digital services (like Netflix) at the forthcoming WTO Ministerial meeting. The undersigned associations urge WTO members to support...
Resilient supply chains: Yesterday, today and tomorrow
Published by the Hinrich Foundation, Singapore, 23 August 2024 By Stephen Jacobi History has much to teach us about the way trade contributes to prosperity through the movement of goods, services, people, and ideas. Today, data can be added to this web of...
SUBMISSION TO THE MINISTRY OF FOREIGN AFFAIRS AND TRADE
GENERAL REVIEW OF THE COMPREHENSIVE AND PROGRESSIVE AGREEMENT FOR TRANS- PACIFIC PARTNERSHIP (CPTPP) DECEMBER 2023 Summary This submission is made on behalf of the New Zealand International Business Forum (NZIBF). As individual NZIBF Members may make their own...
Todd McClay – your trade mission, should you choose to accept it …
As published by Newsroom 19 December 2023 By Stephen Jacobi “Twas the week before Christmas, When all through the house Not a creature was stirring, Except busy trade officials … ‘Tis the season to be “BiM-ing”* and the NZ International Business Forum has sent its...
2023 – Steps forward and back
Trade liberalisation moved forward and backward in 2023. Some notable gains have been achieved for New Zealand, but war, geo-political rivalry and global inflation continue to depress global markets. While the pandemic continued to lurk in the shadows, 2023 was the...
NZIBF releases Brief to the Incoming Minister of Trade
DECEMBER 2023...