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WTO, ICC jointly launch move to boost small business

FE Online Report | Published: August 27, 2017 12:20:06 | Updated: October 23, 2017 08:13:11


The World Trade Organisation (WTO) and the International Chamber of Commerce (ICC) have jointly launched an initiative to facilitate the participation of the smaller companies in global trade.

 

Director-General of the WTO Roberto Azevêdo and Secretary-General of ICC John Danilovich formally launched the initiative, entitled ‘ICC-WTO Small Business Champions’ recently.

 

The initiative will provide a platform for companies and private sector organisations around the world to propose innovative, practical ideas designed to encourage micro, small and medium-sized enterprises (MSMEs) to do business across borders.

 

Those businesses putting forward successful proposals will be recognised as ‘ICC-WTO Small Business Champions’, according to a press statement of the WTO. .

 

MSMEs' share of trade is disproportionately small mainly due to their unawareness of the potentially wider market and resource gap to navigate sometimes complex trading procedures.

 

“But new technologies are helping to pare back these obstacles and create a more level playing field for smaller companies in international trade,” the press statement added.

 

“Helping more MSMEs to trade internationally is an important step in building a more inclusive trading system that benefits a wider array of citizens,” it continued.

 

The aim of the platform is to raise awareness of the barriers that MSMEs face in doing business across borders, highlight the experiences and success stories of those MSMEs that are already trading, facilitate access to critical information, and raise skills among MSMEs to enable them to diversify export markets.

 

Companies across the world can submit their ideas and proposals to MSMEsubmissions@iccwbo.org and get detail information from the website of the WTO (www.wto.org) and ICC (www.iccwbo.org).

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