The 27th APEC Small and Medium Enterprises Ministerial Meeting (SMEMM) convened virtually
on Saturday, 9 October 2021 under the chairmanship of The Honourable Stuart Nash, Minister for
Small Business of New Zealand. The meeting was attended by Ministers and representatives from
all APEC economies. Brunei Darussalam was represented by Yang Mulia Dato Seri Paduka Dr Haji
Abdul Manaf bin Haji Metussin, Deputy Minister of Finance and Economy (Economy).
2. Under this year’s meeting theme “SME Resilience in a World with Covid-19”, member economies
recognised the unprecedented impacts of the COVID-19 pandemic on businesses, calling for APEC
economies to strengthen policies and enable measures that will help Micro, Small and Medium
Enterprises (MSMEs) recover and build resiliency. The Ministers shared their best practices and
presented their views on two sub-themes – “Digitalisation as an Enabler of Effective Recovery
from Economic Shocks” and “Inclusion and Wellbeing”.
3. Yang Mulia Dato Seri Paduka Dr Haji Abdul Manaf bin Haji Metussin in his remarks shared that the
second and third waves of COVID-19 has dampened global recovery efforts and Brunei
Darussalam was not spared, as the second wave hit the country in August 2021. He also
emphasised on the need to have effective government policies to ensure SME resilience,
inclusivity and sustainability, focusing on SME’s digital adoption and integration through SME
capacity development towards digitalization; enhance access to technology; improve access to
finance as well as to provide alternative funding solutions and cross-border payment mechanisms
in order to faciltate SME access to international markets and supply chains.
4. In line with this year’s sub-themes of Inclusion and Wellbeing, Yang Mulia Dato Seri Paduka Dr
Haji Abdul Manaf bin Haji Metussin shared that Brunei Darussalam has reintroduced several
interim fiscal and monetary measures in order to lend our support to the most vulnerable and
badly affected sectors of our economy, the MSMEs in particular. The measures undertaken are
based on strategies to:
(i) maintaining the well-being of the public through the provision of
efficient and adequate healthcare for all;
(ii) protecting jobs and providing support for individuals
through financial assistance and capacity building; and
(iii) supporting and assisting businesses to
ensure their sustainability and continuity.
5. Through the 2021 APEC SME Ministerial Statement, member economies committed to implement
an open, dynamic, resilient and peaceful Asia-Pacific community by 2040 based on the APEC
Putrajaya Vision 2040 endorsed by APEC leaders last year, whilst promoting the inclusivity and
wellbeing to build sustainable, resilient, digitally-enabled and innovative MSMEs for recovery
from the impact of the COVID-19 pandemic. In the Statement, APEC economies remain
committed to intensifying cooperation, capacity-building and the sharing of best practices
through APEC and pledged to continue to support MSMEs by strengthening digital infrastructure,
accelerating digital transformation and narrowing the digital divide. APEC economies will
continue to support women-owned MSMEs to achieve economic and social recovery and
enhanced productivity and therefore welcomed the work on implementing the La Sarena
Roadmap for Women and Inclusive Growth. The Statement also acknowledged the pursuit of
Boracay Action Agenda’s goal of fostering MSMEs’ participation in regional and global markets
and encourage APEC economies to focus on MSMEs’ digitalization and access to finance, to
continue the implementation of SME Working Group Strategic Plan 2021-2024.
6. Prior to the Ministerial Meeting, the 51st and 52nd APEC Small and Medium Enterprises Working
Group (SMEWG) Meetings were held virtually earlier this year in May and September hosted by
Canada and New Zealand respectively. YM Dayang Norlela binti Suhailee, Head of Business
Development and Support of Darussalam Enterprise (DARe), as Chair of the APEC SMEWG,
presented the SMEWG report highlighting the Working Group’s key activities and outcomes for
2021. In her report, she highlighted that following the endorsement of the APEC SMEWG Strategic
Plan 2021-2024 at the 26th SMEMM, the Working Group continued their work plan for this year
in accordance with the objectives of the five priority areas as stipulated in the Strategic Plan,
focusing on relevant policies and MSME programmes with particular emphasis on digitalization
and inclusion aimed to counter the negative economic impact of COVID-19 on MSMEs in the APEC
region.
7. The SMEMM convenes annually and sets out the direction for the SMEWG. The SMEWG is the
champion within APEC for the inclusive development of sustainable, resilient and innovative SMEs
and serves as the main fora where APEC economies exchange information, views, best practices
and analysis concerning SMEs in the APEC region.
8. The adopted 2021 APEC Virtual SME Ministerial Statement is available for download at
https://www.apec.org/Meeting-Papers/Sectoral-Ministerial-Meetings/Small-and-MediumEnterprise/2021_sme
9. Also present at the meeting were YM Pengiran Hajah Zety Sufina binti Pengiran Dato Paduka Haji
Sani, Permanent Secretary (Industry), Ministry of Finance and Economy (MOFE); Director and
officers from Industry and Business Ecosystem Division of MOFE; and officers from DARe.
