CEBU CITY – At the recent closing of the 23rd APEC Auto Dialogue (AD) held in Cebu on 29 August 2015, member economies identified barriers that hinder enterprises from successfully operating internationally.
The AD endorsed strategies for better integration and development of the automotive sector in the Asia Pacific region.
Ma. Corazon Halili-Dichosa, Executive Director of the Board of Investments (BOI) and Chair of the 23rd Auto Dialogue said that much of the trade in APEC is focused on auto components and parts, including high tech electronics, metal work, plastic manufacturing and logistics services.
She also cited studies that identified internal capabilities and access to markets of small and medium enterprises (SMEs) as important factors to enable participation in the international production network.
“While it is important that SMEs pay particular attention on their management capabilities and access to resources, APEC economies should also focus on tariff and non-tariff barriers as well as creating access to foreign markets. Dialogue participants agree that information, along with financing, new technology and ways to connect to the value chain are key strategies to grow the industry in the Asia Pacific region,” Dichosa said.
The Philippines is already implementing the Comprehensive Automotive Resurgence Strategies (CARS), a national program to support, among others, local auto parts SMEs’ participation in the automotive international trade. – BusinessNewsAsia.com