Editor at TFG, Deepesh Patel said, “We’re delighted to partner with WTO’s Trade4MSMEs initiative, supported by the likes of the United Nations Commission on International Trade Law (UNCITRAL), the International Chamber of Commerce (ICC), World Customs Organization (WCO), and UK Aid, to help MSMEs navigate the complex world of trade and trade finance.”
Today, 95% of companies across the globe are MSMEs, accounting for 60% of the world’s total employment according to the World Trade Organization (WTO).
Despite their overwhelming global presence, MSMEs face a number of obstacles when participating in international trade.
Deepesh Patel added, “Recent research suggests that MSMEs have been hardest hit by current geopolitical events, the Russia-Ukraine conflict, and COVID-19.
“Due to its counter-cyclical nature, trade can provide a path to recovery for MSMEs, but more education and information exchange is needed.”
Wider discussions and information access can also help MSMEs remedy recent trends in supply chain disruptions such as sourcing, logistics, and international sales.
The Trade4MSMEs platform includes a roadmap of steps for potential MSME traders that link to relevant resources for businesses to get started. It also includes a section for trade policymakers to find out more about what is being done in the MSME international trade policy space.
Further, both the MSME and policymaker sections contain relevant resources that can be searched by topic and region.
A spokesperson for Trade4MSMEs said, “International markets present an opportunity for MSMEs.
“Trade4MSMES aims to provide small businesses with the tools and resources that would support their participation in international trade, enhance their capabilities, and promote their growth.”
Start reading Trade4MSMEs’ MSME guides for a concise overview of key aspects of international trade here.