The International Trade Centre, the trade wing of the United Nations is gearing up for the first ever Global SME Ministerial Meeting in Johannesburg. With ‘Navigating New Business Frontiers' as it's theme, around 70 countries are expected to participate in the July meet, in a bid to give shape to the voice of small enterprises in national policies around the world and expand their access to markets and financial services. South Africa, the host country, holds the G20 Presidency this year.
Small businesses, including those led by women and youth, account for 90% of all enterprises and provide two-thirds of all jobs. During the media briefing, Minister Stella Tembisa Ndabeni referred to them as the true “economic freedom fighters”, further emphasising that they are not merely participants, but embody the spirit of innovation, resilience, and inclusiveness. "Their success translates to global prosperity," she added.
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The ministerial happens at a critical juncture as global trade faces shifts in tariff policies, rapid advancement in digital technology and an urgent need for an inclusive economic recovery after the pandemic.
To address these challenges, the Ministerial will focus on four key priorities: access to finance, digital transformation and the use of artificial intelligence, green transition, and trade and market access. It will also work towards achieving practical initiatives and country level partnerships that translate policy into action.
"Ministers will work to develop and endorse a call to action, agreeing to reflect the voice of small business in national policies, to support more sustainable and inclusive trade-led development," said Pamela Coke-Hamilton, the executive director, ITC.
Ministers from India, Brazil, the UK, France, and the majority of SADC member countries, along with other delegates, are expected to attend.
This report was written with the assistance of Gopika Subramanian.
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