Commerce Deputy Secretary Andrews Emphasizes Importance of Helping Small and Medium Size Businesses Expand to Asia-Pacific Region

Yesterday, U.S. Deputy Secretary of Commerce Bruce Andrews delivered the opening keynote address at the 2015 APEC SME Global Supply Chain Event co-hosted by the United States and the Philippines in Atlanta, Georgia. As the premier regional forum for advancing free trade and investment for economic growth in the Asia-Pacific region, APEC strives to strengthen the participation of small and medium size enterprises in regional and global markets and enhance sustainable, resilient economies. These goals support the overarching theme of the Philippines as APEC host in 2015: “Building Inclusive Economies, Building a Better World.” 

 

Deputy Secretary Andrews discussed the issues facing SMEs in the Asia-Pacific region and on ways to improve innovation, infrastructure, and border management to build a more cohesive regional economy. He highlighted the importance of building quality and technologically advanced products, creating enhanced global competitiveness by moving products efficiently along the supply chains, and modernizing business at the border.

 

As “America’s Innovation Agency,” the Department of Commerce works to close the skills gap and help SMEs expand into new markets. This work is critical, particularly because more than 90 percent of all businesses in the Asia-Pacific region are small or medium sized businesses. The Department will continue working with APEC and member economies to build stronger commercial ties with the United States and help ensure American businesses can grow and succeed in the global economy.