19 July 2016 — Ambassador Cecilia B. Rebong, Head of the Philippine Delegation to the 14th Group of 77 and China Ministerial Meeting and the Fourteenth United Nations Conference on Trade and Development (UNCTAD XIV) being held in Nairobi from July 17 to 22, delivered a strong statement in support of Micro, Small and Medium Enterprises (MSMEs).
Ambassador Rebong said, “Cumbersome rules and regulations need to be removed or simplified to facilitate MSME participation. Given the rise in participation of developing countries in regional and global value chains, it is important to ensure the full integration of MSMEs into these value chains.”
Support for MSMEs is consistent with the Philippine Ten Point Economic Agenda particularly in terms of improving access to financing, innovative technology, and participation in production networks. The Philippines is also committed to the strengthening of agriculture-based MSMEs to enable them to transact with others in industry and services.
Ambassador Rebong emphasized that MSMEs make up over 95% of all firms and account for approximately 50% of value added and 60% of total employment globally.
Aside from MSMEs, Ambassador Rebong also recognized the pivotal role of trade in attaining inclusive and sustainable development.
“The Philippines continues to support an open, predictable, rules-based, and transparent multilateral trading system. This provides the best way to deliver poverty and income inequality reduction,” she added.
Ambassador Rebong affirmed the Philippines’ commitment for competitive industry and services sectors to attain higher levels of investments and trade that will support the achievement of the SDGs.
She also highlighted the importance of investment in infrastructure, both in urban and rural areas. “This is important in achieving inclusive growth as it improves connectivity and trade facilitation most especially in under-served areas where poverty incidence is much higher. The World Bank estimates that in order for middle-income countries in East Asia to sufficiently address needs in infrastructure, 5% of GDP should be allocated, which is consistent with Philippine targets for 2016,” she stressed.
Mr. Charles John Mwijage, Minister of Industry, Trade and Investment and Member of Parliament of Tanzania chaired the G77 and China Ministerial Meeting. In attendance were several other foreign ministers and ministers of trade from member countries, and delegates. The meeting adopted a comprehensive ministerial declaration that espouses the values of the 134-strong developing country bloc.
The Group of 77 and China is composed of countries from what is known as the developing South. It is a negotiating bloc that is active on the issue of development. It was founded in 1964 during the negotiations of UNCTAD I also held in 1964. END