WTO Small Business Group Discusses Role of Business Support Organizations
The Informal Working Group on Micro, Small and Medium-sized Enterprises at the World Trade Organization conducted discussions under its work programme on Oct. 18 centering on business support organizations' role in helping small businesses take advantage of international trade opportunities, the WTO said. The session was held in response to a U.S. proposal that suggested "exploring how small businesses are linked to the mechanisms that shape trade policy through local chambers of commerce, trade associations, and/or other local business support organizations."
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The group will next meet on Dec. 10 to discuss good regulatory practices for small and medium-sized enterprises and "trade digitalization" in response to a U.K. proposal, the WTO said. The U.K. will explain how these companies' interests are considered in regulatory development, while also discussing "various processes and tools used in domestic regulatory procedures" to benefit these companies.
Russia also presented a proposal to establish a "compendium of educational programmes aimed at empowering women entrepreneurs in finance and marketing."
WTO members also shared updates on their implementation of the package of recommendations regarding small and medium-sized enterprises passed in 2020 aimed at boosting these firms' trade globally. The International Trade Centre gave updates on the Global Trade Helpdesk, "an online platform intended to bring together trade and business information for companies," noting increased use of the platform in the U.S., India, China and Indonesia.