The Philippines government is planning to focus on micro, small and medium enterprises (MSMEs) in food processing and agribusiness.
The plans will be discussed at the 22nd Asia Pacific Economic Cooperation (APEC) SME Ministerial Meeting.
The country aims to develop sustainable and resilient MSMEs; step up modernization programs and advance standards and conformance of MSMEs to those standards; and remove barriers to help MSMEs make inroads into new markets.
The Philippines delegation head for 22nd APEC SME Ministerial Meeting Jerry Clavesillas said the government will make interventions to help MSMEs in food processing and agribusiness sectors to bolster their participation in the value chain on global scale, reported the Manila Times.
The focus on MSMEs will have to be stepped up given that more than 60% of the country's MSMEs belong to the food processing industry. As the Philippines is an agribased economy, majority of the MSMEs will require regulatory assistance to comply with global standards.
Jerry Clavesillas was quoted by publication as saying: "There are so many things that they have to comply with now the market is becoming more selective. For agriculture products now, the preference of the market is organic productions."
The move to facilitate the MSMEs will enable them to meet global market requirements for new products.
The government will also conduct two-day workshop for MSMEs in sectors such as food processing, agribusiness to help them understand the changing dietary requirements on global scale and leverage those trends.
