08 December 2016 — Ms. Maria Teresa T. Almojuela, Charge d’affaires, a.i., of the Philippine Mission to the United Nations in Geneva called on the United Nations Conference on Trade and Development (UNCTAD) to support Micro Small and Medium Enterprises (MSMEs) during the 63rd Session of the Trade and Development Board (TDB) held at the Palais des Nations in Geneva from December 05 to 09.

“The Philippines is a champion of MSMEs. As we did during our chairmanship of APEC in 2015, the Philippines will highlight during our chairmanship of ASEAN in 2017, the need to integrate MSMEs into the digital economy and in developing an innovation driven economy. This will be in line with one of the Philippine’s thematic priorities for our chairmanship, which is the promotion of inclusive and innovation-led growth.” Ambassador Almojuela pointed out in her opening remarks.

She further added that globally, small and medium enterprises make up over 95 percent of all firms, account for approximately 50 percent of value added, and 60 percent of total employment. Given these numbers, UNCTAD should continue to support this sector.

Aside from highlighting the contributions of MSMEs to economic development, the Philippines also urged UNCTAD to assist developing countries like the Philippines in ensuring their continued growth through research and analysis and technical cooperation. 

The UNCTAD was founded in 1964 and has been the major forum within the UN system where Member States can discuss crucial trade and development issues. Its aim is to promote the development of all UN members so that their citizens may experience and achieve prosperity. A major conference was just concluded in July 2016 in Nairobi, Kenya, which resulted in the Nairobi Maafikiano or Action Plan, which details the priority areas of UNCTAD for the next four years. END.