Asia's SMEs: APEC brings them together in Melbourne: the SME elite gather to discuss the fastest growing sector in the Asia-Pacific region.

• Author: Carapiet, Lisa
• Position: Small and medium enterprises - Asia-Pacific Economic Cooperation

President George Bush and President Vladimir Putin held a joint press conference during the 2001 APEC Economic Summit in Shanghai, stressing the weight in maintaining US-Russian relations.

Apart from the pressing issue of military alliances during a trialing and controversial time for the United States, Putin honed in on the importance of business relations, and more specifically, small and medium enterprises (SMEs) in strengthening bonds between the two nations. "Business in Russia with the United States is moving forward, and not only US and Russian companies participate in it, but also small and medium enterprises", he said.

The domestic SME industry in the Asia-Pacific region is viewed to be the fastest growing sector according to the HSBC Asia-Pacific Small Business Confidence Survey.

Covering 1,800 SMEs over nine countries and territories, including Australia, Hong Kong, mainland China, Taiwan, Singapore, India, Korea, Malaysia and Indonesia, Noel McNamara, head of commercial banking for HSBC Bank Australia said, "The region as a whole is positive about the economic outlook and the trade opportunities [investment in SMEs] brings".

The industry plays a significantly important part in APEC deliberations. Speaking at the 14th Meeting of APEC Ministers Responsible for Small and Medium Enterprises in Hobart, Australia in March this year, Ambassador Juan Carlos Capunay, APEC Secretariat deputy executive director said, "SMEs and micro-enterprises are important drivers of growth and social and economic development in the Asia-Pacific. They represent more than 95 per cent of all enterprises and play an important role in providing jobs and generating income in our economies."

"This is why APE's efforts to promote open trade and economic cooperation seek to invigorate and to strengthen the development of SMEs", Capunay says.

The value of SMEs to the Asia-Pacific region will be grappled with by the APE Business Advisory Council (ABAC) at the Melbourne SME Summit in late August. The Summit will bring together SME business stars from Australia and the APEC region to discuss the current shortfalls and future needs of this dynamic sector. It will also see the ABAC placed in a unique position to influence the priorities of the 21 APEC economies.

Peter Charlton, ABAC member and chairman of the Summit says, "This is the first SME Summit the APE business council has arranged. It is significant that it is being held in Australia as the host of APE 2007.

"SMEs are the vital growth part of the APEC engine and we recognise this by holding a summit on the issues and ideas."

SME Stars

The Summit program boasts an array of high profile government officials, experts and business executives who all have a vested interest in the proliferation of SMEs.

Speakers include Sol Trujilo, CEO of Telstra, Chris Anderson, executive deputy chairman of PBL, Radzi Mansor, chairman Telekom Malaysia, Edemee Metivier, executive vice president of Business Development Bank of Canada, Michael Gold, president of Crimson Capital, Ong Teck Soon, CEO of Abecha and Rod Vawdrey, CEO of Fujitsu Australia and New Zealand.

However, the two speakers at the Summit of particular interest to...