Source: FN
Prime Minister Hun Sen, on Monday, received a courtesy call from Arancha Gongalez, Executive Director of the International Trade Centre, the joint agency of the United Nations Conference on Trade and Development and the World Trade Organization, where both parties discuss mainly on how to promote Cambodia’s Small and medium-sized Enterprises (SMEs).
Arancha Gongalez praised Cambodia on capabilities to build and expand Cambodia’s competitive skills on SMES, particularly to stronger in trade area. She invited Cambodian SMEs to exhibitions in Shanghai, China in November this year so that she will learn about the challenges Cambodian SMEs are facing.
According to Arancha, to promote SMEs, we need to focus on four factors: (1) SMEs are capable of responding to market demands; (2) quality of products; (3) access to capital and loans; and (4) trusted markets.
Prime Minister Hun Sen expressed his gratitude towards Arancha Gongalez for contributing to the development of SMEs’ strategies in Cambodia and support on Cambodian Commerce Ministry.
Small and medium-sized enterprises (SMEs) are ’the world’s most concentrated, booming and innovative engine for world trade and growth’, according to the Executive Director of the International Trade Centre (ITC), Arancha González. With 95 per cent of global enterprises comprising SMEs, they serve as key drivers of innovation, social integration, and employment — representing 60 per cent of private sector jobs – which fuel economic growth, she said.