INF/MSME/R/31  
 
14 February 2022  
(22-1355) Page: 1/5 
  Original: English  
 
 
INFORMAL WORKING GROUP ON MSME  
OPEN -ENDED MEETING OF 8 FEBRUARY 2022  
Summary of discussions  
The following communication, dated 14 February 2022 , is being circulated at the request of the 
Coordinator of the Informal Working Group on MSMEs.  
 
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The MSME Informal Working Group (MSME Group) met for its first open -ended meeting of 2022 
on 8 February. A total of 71 delegations1 attended the meeting, including 11 non -working Group 
members (Angola; Cambodia; Chad; Egypt; Hait i; Indonesia; Lesotho; Mauritius; Thailand; Togo; 
and the United States of America).  
 
1  SUMMARY OF DISCUSSIONS  
1.1.  The MSME Group welcomed three new members at its first meeting of 2022: Georgia, 
The Gambia and Macao, China. The Group now counts 94 members in to tal. 
1.2.  The Vice -Minister for Promotion of MSMEs of the Dominican Republic,  Dr. Jorge Morales Paulino , 
addressed the Group. He stressed the need for International Organizations to help MSMEs access 
finance, noting that 97 per cent of businesses in the Dominican Republic are MSMEs and access to 
finance continues to be one of their primary struggles.  
1.3.  Mexico updated the Group on recent and planned developments to improve the Trade4MSMEs 
web platform. Translations into French and Spanish should be complete d soon and ten additional 
MSME and policymaker guides will be developed in the coming year based on user feedback. Regional 
and national pages will also be developed. To ensure sustainability of the platform and continued 
updating, the MSME Group decided to  create a taskforce and nominated Mexico as the lead. One of 
the key objectives in the coming months will be the development of partnerships with international 
and regional organizations working on MSME issues to stay abreast of development on this topic a nd 
explore opportunities for joint work.  Trade4MSMEs remains funded by the UK's Trade and 
Investment Advocacy Fund (TAF2+) through 2022 and work is under way to raise new funds. Given 
the ongoing development needs and hosting costs, MSME Group members were  invited to consider 
how they could financially support the platform . 
1.4.  Members provided the Group with details on their progress to implement the December 2020 
MSME package. The Russian Federation and China took the floor to confirm that they had included 
 
1 Albania; Angola ; Argentina; Australia; Austria; Bahrain, Kingdom of; Brazil; Brunei Darussalam; 
Cambodia ; Canada; Chad; Chile; China; Colombia; Côte d'Ivoire; Czech Republic; Dominican Republic; 
Ecuador; Egypt ; El Salvador; European Union; Finland; France; The Gambia; Georgia; Germany; Guatemala; 
Guyana; Haiti; Hungary; Indonesia ; Ireland; Israel; Italy; Japan; Kazakhstan; Korea,  Republic of; Lesotho ; 
Macao, China; Malaysia; Malta; Mauritius ; Mexico; Moldova , Republic of ; Montenegro; Myanmar; New Zealand; 
Nicaragua; Nigeria; Norway; Paraguay; Peru; Philippines; Poland; Romania; Ru ssian Federation; Saudi Arabia, 
Kingdom of; Singapore; Slovak Republic; Spain; Sweden; Switzerland; Chinese Taipei; Thailand ; Togo; 
Turkey; Ukraine; United Kingdom; United  States  of America ; Uruguay; Viet Nam (non-MSME Group members 
are in italics ). INF/MSME/R/31  
 
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  MSME information in their TPRs pursuant to Annex 1. Switzerland, Mexico and the European Union 
noted that they plan to add a section on MSMEs in their upcoming Trade Policy Reviews 
in 2022 and 2023. Related to this same annex, Canada noted that information on Members' MSMEs 
is not only provided in the government and secretariat reports for TPRs, but also in the Q&A. They 
recommended that this information be added to the  online  MSME TPR database launched last year . 
Uruguay informed the Group that their MoU wi th the WTO for the automatic exchange of data as per 
the 2019 Decision on the Modalities and Operation of the Integrated Database (IDB Decision) and 
Annex 5 of the Group's recommendations had been signed and that electronic transmissions of data 
will comme nce in March 2022.  
1.5.  Related to implementation of the package, the ITC gave a presentation on the Global Trade 
Helpdesk's plans for 2022, including navigational videos , possible new training with the ICC Centres 
for Entrepreneurship, and new tools it is work ing to develop , including AI enhanced search of HS 
codes. The ITC  also provided information on the verification surveys it has received from MSME 
Group members so far, as agreed in Annex 2 of the 2020 Package. C ôte d'Ivoire invited the Global 
Legal Entity Identifier (GLEIF) to give a presentation on the Legal Entity Identifier  (LEI) in support 
of Annex 6 of the MSME Package. They presented a case study carried out in Zimbabwe. Speakers 
from Zimbabwe highlighted the benefits of using the LEI, in particular f or small firms.  More details 
on this presentation can be found in the Annex.  
1.6.  The STDF presented their new report on Good Regulatory Practices in the context of SPS 
measures, which include greater transparency and reviewing changes with a small business len s. 
The guide offers practical guidance and encourages public and private sector stakeholder 
engagement. The Guide aims to improve compliance, reduce administrative costs and increase trust 
in new SPS regulations. All of t his ties in closely with Annex 4 of  the December 2020 package to 
promote MSME inclusion in regulatory development in the area of trade , and members noted the 
importance of encouraging close work and dialogue with other WTO bodies and committees to 
identify synergies.  
1.7.  Turning to topics under  discussion or for future work, Canada recalled the various presentations 
the Group has already had on cyber readiness and suggested that this continue to be a topic for this 
year's work program me. Canada cited  the new Canadian  standard "Baseline cyber sec urity control s 
for MSMEs"  as one example of best practices. Noting the forthcoming triennial TBT session, Canada 
suggested that MSME delegates coordinate with their TBT colleagues to plan for some MSME 
contributions to that TBT session next year. Canada al so re-introduced low -value shipments as a 
topic for consideration, recalling past presentations and suggesting another invitation to the Global 
Express Association (GEA) to continue the conversation. The Philippines introduced the Group to the 
Boracay Acti on Agenda and its benefits for MSMEs and women through trade facilitation, access to 
finance, the digital economy and capacity building. They also briefly reviewed the APEC strategy for 
green and sustainable MSMEs. This was followed by presentations from t he ITC on their 
Green ToCompete initiative and by UNCTAD on the development of the "Born Green via Digital 
Toolkit" under the G20's Italian presidency in collaboration with  the ITC, OECD, the World Bank and 
the WTO. UNCTAD , at the request of Guatemala, also presented  on the Intergovernmental Group of 
experts on International Standards of Accounting and Reporting (ISAR) which have developed an 
accounting tool for MSMEs that can assist in their access to finance, as well as gu ides for 
policymakers. More details on the presentations received can be found in the Annex.  
1.8.  In discussions on the work program me for 2022, members expressed an interest in continuing 
to explore these issues and in pursuing new issues that may be proposed by members . One 
suggestion raised by the European Union was that the 2019 note on MSME provisions in Regional 
Trade Agreements (RTAs) be updated and that members share their experiences on MSME provisions 
in RTAs. It was also noted that implementation of t he package remains a priority and that outreach 
to increase the number of sponsors of the MSME MC12 Declaration should continue.  
1.9.  Tofara Online, one of the four winners of the 2021 Digital Champions for Small Business 
initiative launched by the MSME Group t ogether with the ICC and ITC, also joined the meeting to 
update the Group on implementation of their project, including the launch of their first training 
course.  
1.10.   The MSME Group approved its annual report as well as a new reporting symbol INF/MSME/P 
for private sector inputs circulated to the Group . The Coordinator also informed the Group that INF/MSME/R/31  
 
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  100 delegations were now sponsoring the MC12 MSME Declaration.  A revised Declaration would be 
circulated in the coming days.  
1.11.   The MSME Group held its annual meeting wi th the private sector in the afternoon to gather 
their views on issues of importance to MSME traders and to present the Trade4MSMEs platform. 
Private sector participants invited the Group to support adoption of the Model Law on Electronic 
Transferable Reco rds (MLETR) of the United Nations Commission for International Trade Law 
(UNCITRAL) at the national level, to look into MSME cyber readiness, and to address the proliferation 
of sustainability labels and standards which create significant barriers for smal l businesses to trade.  
2  NEXT STEPS  
2.1.  The next open -ended meeting of the MSME Group is planned for 11 May 2022.  
 
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  INF/MSME/R/31  
 
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  ANNEX  
PRESENTATION SUMMARIES  
1  GLOBAL LEGAL ENTITY IDENTIFIER FOUNDATION (GLEIF)  
1.1.  The GLEIF joined the Group again to present the Legal Entity Identifier (LEI) , a life -long code 
owned by the respective legal entity. The GLEIF highlighted the benefits of the LEI through 
supporting presentations by four financial institutions and businesses with a case study from 
Zimbabwe . First, Yann Desclercs, Managing Director of Cornerstone Advisory Plus, a west African 
financial compliance firm, explained the importance of the LEI, especially for African financial 
institutions. The LEI can help financial institutions to increase their compliance st andards, thereby 
reducing their exposure to "derisking" when the international financial community offloads certain 
institutions because they assume they will require excessive due diligence. Next, 
Munyaradzi  Kamhozo and Erasmus Bhunu from the NMB Bank in Zimbabwe, reported that the LEI  
can significantly reduce the time to validate the identity of MSMEs  and can decrease the cost of 
doing business for traders who are especially exposed.  Finally, Second Muguyo from Copperwares, 
a Zimbabwe copper and silver go ods manufacturer, explained how  the LEI would make finance more 
accessible  to small businesses like Copperwares, assuring their business sustainability . 
2  PHILIPPINES PRESENTATION ON THE APEC BORACAY ACTION AGENDA  
2.1.  The Philippines updated the Group on the APEC Boracay Action Agenda (BAA) as well as the 
outcomes of the 2021 Global MSME Forum on Greening SME Finance . The Boracay Action Agenda 
was initiated in 2015 and has five main priorities, namely trade facilitation, access to finance, the 
digital economy,  capacity building, and support for women MSMEs. A recent study found that 
initiatives of the BAA focused on women, the digital economy and capacity building and included the 
creation of an APEC MSME Marketplace; APEC Trade Repository; APEC Authorized Econ omic Operator 
Compendium; APEC Strategy for Green, Sustainable and Innovative MSMEs; and La Serena 
Roadmap for Women and Inclusive Growth. A number of issues were also identified that still need 
addressing, including a strong need for MSME e -learning and s kill certification program mes, 
increasing MSME access to finance, and establishing a common standard for intellectual property 
evaluation in APEC economies. The BAA also found a need for promoting green and SMART MSMEs 
as enterprises of the future. The Phi lippines noted its desire to collaborate with WTO Members in 
common priority areas of cooperation for MSMEs from the BAA including on transparency and 
information sharing; trade facilitation and e -commerce; participation in regulatory development; 
gender e quality and women's economic empowerment; aid -for-trade and technical assistance and 
capacity building; and access to finance.  
3  ITC GREENTOCOMPETE  
3.1.  The ITC reported to the MSME Group on their Green ToCompete initiative to build MSME capacity 
and strengthen th eir resilience in green markets. Recognizing the competitive forces in trade that 
are affecting businesses, both negative from value chain risks due to climate hazards and 
environmental externalities created by business including emissions and waste as wel l as positive 
forces like new environmental business opportunities, the ITC looked for ways to  activate green 
trade focusing on circularity, climate resilience and the bioeconomy. Through new GreenToCompete 
Hubs ( https://www.sustainabilitygateway.org/hubs -landing/ ), access to green finance via a mapping 
of national sources, platforms for dialogue and thought leadership, the ITC hopes to help set the 
policy agenda and support MSMEs to drive green change. As part of the initiative, the ITC has 
developed a toolkit on the circular economy, coaching program mes or MSMEs, and are in the process 
of developing a platform where MSMEs can do an environmental assessment of their business.  
4  BORN GREEN VIA  DIGITAL TOOLKIT DEVELOPED UNDER THE G20 ITALIAN PRESIDENCY  
4.1.  On behalf of G20 Italian Presidency, UNCTAD presented  the "Non-Binding Policy Toolkit on 
Promoting Born Green via Digital MSMEs and Entrepreneurship in Global Supply Chains ", which was 
developed i n collaboration with the  ITC, OECD, World Bank and WTO . The green and digital 
economies are two entry points for MSMEs and are tied in with the G20 priorities of people, planet 
and prosperity. Recognizing new challenges that MSMEs face accessing green fina nce, digital 
technologies, online marketplaces, compliance with green regulations and access to new knowledge INF/MSME/R/31  
 
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  and skills, a toolkit with a framework of five elements was developed. These elements include 
enhancing entrepreneurship education and skills; fac ilitating technology exchanges and innovation; 
improving access to finance; promoting partnerships and linkages; and optimizing the regulatory 
environment. It is hoped that this toolkit can inform further discussions and exchanges of best 
practices, provid e a reference for those looking to support MSMEs in the green and digital economies, 
and can inform policy support and technical assistance.  
5  UNCTAD – INTERGOVERNMENTAL GROUP OF EXPERTS ON INTERNATIONAL 
STANDARDS OF ACCOUNTING AND REPORTING (ISAR)  
5.1.  UNCTAD al so presented on the Intergovernmental Group of Experts on International Standards 
of Accounting and Reporting (ISAR) . Created by ECOSOC and housed at UNCTAD, ISAR seeks to 
generate consensus building, provide policy guidance, and give technical assistance on financial and 
sustainability reporting. ISAR also looks to support enterprise reporting for assessing the private 
sector contribution to implementation of the SDGs. Key areas of focus also include MSME accounting 
and reporting. Currently, ISAR is in the  pilot phase of developing an e -accounting platform for 
MSMEs. It has also developed guidance on core SDG indicators and a training manual on accounting 
for MSMEs. Improving MSME reporting and accounting capacity can help these businesses improve 
their cre dit worthiness and access to finance.  
6  TOFARA ONLINE  
6.1.  Tofara Chokera from Tofara Online, a Zimbabwean Digital Marketing and Innovation Consulting 
Trust, presented to the MSME Group on actions undertaken to implement its winning Tech Driven 
Entrepreneur Train ing Program me from the 2021 Small Business Digital Champion initiative. Aiming 
to tackle unemployment, gender inequality, and a lack of technical skills, the Tech Driven 
Entrepreneur Training kicked off at the end of January 2022 with a focus on enabling e ntrepreneurs 
to trade internationally via the digital economy, especially by leveraging digital marketing. 
Participants in the training come from five African economies (Botswana, Nigeria, South Africa, 
Zambia, and Zimbabwe) and the hope is to reach at lea st 2500 trainees both online and in -person. 
Tofara Online also intends to increase accessibility by creating content for the hearing and speech 
impaired, developing an online course that can be accessed on demand, and sponsoring more women 
and MSME partici pants.  
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