Final Review of the Boracay Action Agenda Study Report
| Published Date | October 2021 |
|---|---|
| Type of Publication | Reports |
| Publication Under | SOM Steering Committee on Economic and Technical Cooperation (SCE), Small and Medium Enterprises Working Group (SMEWG) |
| Accessed | 823 |
| Pages | 145 |
| Download publication | Download |
Description
Recognizing MSMEs’ significant contribution to APEC economies, Trade Ministers adopted the Boracay Action Agenda to Globalize MSMEs (BAA) in May 2015, which APEC Leaders subsequently welcomed. This final review covers the 279 projects and initiatives 132 projects under the BAA that was implemented during the period 2016-2020. The official stocktake showed that some Priority Actions (PAs) are relatively more supported than others. The top three PAs are PAs 6, 7, and 5, which respond to recommendations for work on the digital economy, institutional support, and financing, respectively. This final review also found that APEC member economies have actively supported the BAA by proposing and implementing relevant projects to their economies. In fact, a total of USD 29,581,367 in funds were allotted for BAA projects of which 24 percent are contributions from self-funded projects. Additionally, data on the projects implemented showed that PAs 6, 7 and 8 are relatively more supported than other PAs, thus, indicating that member economies are recognizing the need to support issues related to the digital economy, institutional support, and women-led MSMEs.