The crucial role of SMEs in capturing growth in the global economy will be the spotlight of a roundtable debate which will bring together world-leading experts on the topic. The roundtable will be held as part of the Ministers and Business Leaders Plenary session at Global Trade Development Week, GTDW. Saeed Al Mansoori, UAE Minister of Economy will open GTDW, an annual high-level forum and exhibition held from 27th-29th October at the Ritz Carlton DIFC, Dubai.
The GTDW roundtable will feature influential figures driving policy initiatives and collective action to foster global growth of SMEs. Joining Dubai SME are high-level representatives from the United Nations, International Trade Corporation, International Finance Cooperation and Dubai SME who will address the 1,000 business and government leaders attending the event.
“SMEs are essential drivers of growth in emerging economies across the world, accounting for up to 90% of all businesses in these markets. These figures are reflected in Dubai’s dynamic economy with SMEs today representing 95 percent of all registered firms, 42 percent of the work force and 40 percent of the emirate’s GDP. With Dubai being the host of GTDW, we are keen to share the many initiatives the UAE government has put in place to strengthen the competitiveness of SMEs and enhance sustainable development in various economic sectors,” said Abdul Baset Al Janahi, CEO of Dubai SME, the agency of the Department of Economic Development in Dubai mandated to promote the SME sector.
Entitled, “Promoting Innovative SMEs as Key Drivers of Innovation and Engines for Global Trade and Growth”, the GTDW roundtable will examine macro level issues that impact on the growth of SMEs. The roundtable will also focus on the global solutions to obstacles faced by SMEs such as access to finance and overcoming bureaucratic problems.
“GTDW’s six summits cover all key trade and economic development issues and it is absolutely essential that the role of SMEs are emphasised,” explained Andrew Keable, Co-CEO of KW Group, the owners and organisers of GTDW.” He continued, “To put this into context, according to recent research by A.T. Kearney, the total potential for the GCC is an additional US$100 Billion to GDP and up to 2 million jobs in the coming years.”
Source:Emirates news agency
