SMALL and medium enterprises (SMEs) can prosper with the business opportunities offered under free trade agreements (FTAs), an official of the Philippine Chamber of Commerce and Industry (PCCI) said on Wednesday. FTAs are good for SMEs but they need the assistance of trade chambers to overcome the obstacles that come with FTAs, said George Barcelon, PCCI president. “While regional partnerships present opportunities, these also present potential threats as they increase competition for MSMEs [micro, small and medium enterprises],” Barcelon added. Barcelon said the FTAs or economic partnerships are avenues to help take advantage of the benefits from increased trade arrangements with larger firms within the region. “Cooperation between us can be done in the conduct of trade missions, business matching and even profiling of important markets,” Barcelon said.

Source: Manila Times July 12, 2017 17:37 UTC