Micro, small, and medium-sized enterprises (MSMEs) are the backbone of the global economy, accounting for more than 90 percent of businesses worldwide. They drive innovation, foster local economic growth, and promote social inclusion, according to Matthew Wilson, chairman of the World Trade Organization’s Informal Working Group on MSMEs.
Speaking at the ongoing China International Supply Chain Expo, Wilson emphasized the critical role that MSMEs play in global trade. “MSMEs are not just small businesses; they are the innovators and job creators that fuel our global markets,” he said.
China alone is home to over 52 million MSMEs, representing around 60 percent of its GDP and 68 percent of its exports, Wilson noted. “The growth and success of China’s MSMEs highlight their importance in international trade and their potential to contribute to global economic development,” he added.
The expo serves as a platform for MSMEs to showcase their products and services, connect with international partners, and explore new opportunities in the global supply chain.
Reference(s):
cgtn.com
