The Association of Southeast Asian Nations (Asean) is prioritizing the development of local micro, small, and medium enterprises (MSMEs) to ensure that not only large corporations thrive but also local-level businesses. This initiative aims to address ongoing crises, including those in the Middle East.
DTI Undersecretary Highlights Importance of MSMEs
Department of Trade and Industry (DTI) Undersecretary Allan Gepty emphasized the need to support small businesses to help them weather current challenges. He stated on May 7, 2026, that one of the key trade agendas of Asean is inclusivity, which includes integrating MSMEs into the global value chain. Enhanced market access within the region is a crucial step in achieving this goal.
Expanding Opportunities for Local Businesses
Beyond strengthening local enterprises, the initiative seeks to facilitate exports to other countries and connect local businesses with larger companies in the value chain. This approach is expected to create more jobs and open additional business opportunities for MSMEs.
Philippines' Chairmanship Priorities
Under the chairmanship of the Philippines, a priority is to establish an Asean Center of Excellence for MSMEs. This center will integrate all programs, projects, and initiatives across the region to ensure cohesive support for small businesses.
To achieve these goals, Asean is also considering the creation of a Digital Economy Framework Agreement and the establishment of regional payment interconnectivity. These measures aim to streamline digital transactions and foster a more integrated economic environment for MSMEs.
