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SMEs aim global markets

Small and Medium Scale Enterprises SME value chain must be upgraded to penetrate into global and regional markets as this sector has high potential for growth and to alleviate negative environmental effects through public-private partnership.

Prof. Rahula Attalage, Dr Ravi Ratnayake, Prof. Ananda Jayawardena, Dr Mohomed Lamine (UNIDO) at the headtable. Picture by Sumanachandra Ariyawansa

Trade and Investment Director, United Nations (Economic and Social Commission for Asia and the Pacific (ESCAP) Dr Ravi Ratnayake said. He was speaking at the two day Sub-regional workshop on SMEs’ Value Chain Development at Cinnamon Lakeside Hotel yesterday.

Value Chain Development

* Bangladesh, Nepal, Sri Lanka share their sectoral development plans to promote SMEs’

*Proposed national strategies should be incorporated in their industrial policy framework.

* The national action plan will include implementation strategies, agencies responsible and costing.

He said it is important to strengthen sub-regional trade and economic cooperation among Bangladesh, Nepal and Sri Lanka to maximize their export potentials.

If the three countries promote trade activities in integrated way rather than doing it in isolation they would learn from each other sharing experience and it is also easy to mobilize funding.

For upgrading SME value chains, the three countries in cooperation with ESCAP focused on key products with high export potential, such as industrial rubber, electronic goods, plastic products and commercial crops (ginger and coffee) Dr Ratnayake highlighted the importance of selected product sectors for their contributions to national economies in terms of employment, backward linkages and export.

The participating countries need to make sure that proposed national strategies for short, medium and long, term growth of selected sectors should be incorporated in their industrial policy frameworks along with appropriate incentives and support functions.

The SMEs’ in developing Asia should be able to make up over 80-90 percent of all enterprises, provide over 60 percent of the private sector jobs, generate 30-40 percent of total employment, contribute about 50 percent of sales or value added and share about 30 percent of direct total exports, he said.

The key success factors of SME development include policy and regulatory frameworks, supporting infrastructure, human resources development, access to finance, technology enhancement and business development services. The national action plans will also include implementation strategies, agencies responsible and costing.

 

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