Ong added that e-commerce is particularly beneficial for MSMEs as it significantly lowered barriers to entry and operating cost for businesses. During the session themed 'Strengthening Economic Connectivity', economic and trade ministers from 21 Asian countries and 30 European countries agreed on the importance of enhancing multilateral work on e-commerce. Ong said the ministers also reaffirmed MSMEs' leading role in job creation, economic growth, and prosperity in both developed and developing countries. "The ministers expressed strong support to internationalise MSMEs by fostering their participation in regional and global value chains," he said. With the theme "Reconnecting Asia-Europe: Innovative Partnership for Inclusive Prosperity", EMM7 discussed facilitating and promoting trade and investment, strengthening economic connectivity, and sustainable and inclusive growth.

Source: The Star September 23, 2017 12:56 UTC