Eastvantage Joins the APEC SME Summit 2015

The Philippines takes centre stage as twenty one world leaders and ministers convene in Manila for the 2015 APEC Economic Leaders’ Week.

As all participating nations gear up to boost trade and inclusive, sustainable growth in the Pacific Rim, the small and medium enterprises (SME) are likewise given an extra push.  The Asia Pacific Economic Conference (APEC) SME Summit aims to challenge the traditional SME framework and mindset with the deeper goal of motivating entrepreneurs to re-think and re-create the way they do business, as well as to look at their products, services and business operations through the lens of innovation to successfully meet the demands of the 21st century global market. 

Eastvantage takes part in this US-Philippine trade mission organised by the APEC Business Advisory Council (ABAC) on the 17th of November 2015 at Green Sun in Makati City.  Eastvantage delegate and Managing Director, Joeri Timp, believes that it’s high time for SMEs to be heard and counted in regional and global markets.  He believes, too, that the APEC SME Summit paves the way for a better understanding of how players like Eastvantage can take advantage of new trade opportunities, contribute in promoting alliances with larger businesses in global value chains and more importantly, how to continue creating new jobs and making valuable contribution in the ASEAN economies.

Recognised as the engines of growth and innovation in the APEC region, SMEs account for over 97 percent of all enterprises and employ over half a million of the workforce across APEC economies.

Culled from the APEC Senior Officials' Meeting, "Yes, small firms can benefit from greater trade too."

- See more at: http://www.eastvantage.com/newsroom/eastvantage-joins-apec-sme-summit-2015#sthash.nAJa1x9i.dpuf


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Philippines Ranks High in Tourism Visa Openness

The Philippines is among the top 10 countries in the world where an international traveler encounters the least hassle in terms of securing a visa.

This factor is considered crucial to boosting local tourism and economic growth.

According to the latest Visa Openness Report by the United Nations World Tourism Organization (UNWTO), the Philippines scored 84 out of 100, indicating its openness, or the extent in which the country is facilitating tourism.

Those on top of the list were Cook Islands, Federated States of Micronesia, Niue and Dominica, which all scored 100, followed by Haiti (99) and Macao, China (85).

“From a regional perspective, destinations in Asia and the Pacific have facilitated international travel the most. To visit Asia and the Pacific, 23 percent of the world’s population does not require a visa, another 23 percent may obtain a visa on arrival, and 5 percent may use an e-visa,” the UNWTO report said.

“Southeast Asia is, together with East Africa, the most open subregion because of the large number of visa on arrival requirements and the considerable number of visa exemptions, and e-visa alternatives,” it added.

In a separate statement, UNWTO secretary general Taleb Rifai noted that visa facilitation is central to stimulating economic growth and job creation through tourism.

“Although there is much room for improvement, we are pleased to see that a growing number of governments around the world is taking decisive steps in this regard,” Rifai said.

Countries in the Americas and in Asia and the Pacific are said to have been at the forefront of visa facilitation, while Europe and Middle East have more restrictive visa policies.

Overall, emerging economies tend to be more open than advanced ones, with Southeast Asia, East Africa, the Caribbean and Oceania among the most open subregions.

Earlier research by the UNWTO and the World Travel and Tourism Council (WTTC) showed that the G20 economies could boost their international tourist numbers by an additional 122 million, generate an extra $206 billion in tourism exports, and create over five million additional jobs by improving visa processes and entry formalities.

The same research carried out for the Asia Pacific Economic Cooperation (APEC) member states and the Association of Southeast Asian Nations (ASEAN) indicated that visa facilitation could generate important gains for both groups, including the creation of 2.6 million jobs in APEC and 650,000 jobs in the ASEAN.

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