“We have been working closely with our partners to close the gaps in trade finance provision, which is a particular issue for MSMEs. And the multilateral development banks have responded through their trade finance facilitation programmes. In 2016, these programmes supported around $22 billion in trade transactions. In 2017, this increased to $30 billion. And in 2018, it is estimated that over $35 billion of trade will be supported by these programmes. This would amount to an increase of more than 50% compared to just two years ago.”
Roberto Azevêdo, Director-General, WTO, disclosed this when he addressed a workshop organized by the Informal Working Group on MSMEs (micro, small and medium-sized enterprises) on world MSME Day (27 June).
He said that efforts by many WTO members have brought the MSME perspective to the fore.
He cited progress in working with partners to increase trade finance opportunities for MSMEs.
He also highlighted how implementation of the WTO’s Trade Facilitation Agreement will ease small businesses’ participation in global markets by cutting trade costs and reducing administrative burdens.
The joint initiative on supporting MSMEs, which was launched in Buenos Aires last year, is a clear sign of these efforts – and of the progress made. This work continues with real energy and enthusiasm behind it. Although we must acknowledge that some are not in a position to support it, this initiative remains open for any member to join.”