FEALAC 25years fealac

Micro, Small and Medium Enterprises

Micro, Small and Medium Enterprises (MSMEs) are the backbone of the FEALAC economies and the largest source of domestic employment across all economic sectors.

Since the beginning of the forum, the Foreign Ministers of FEALAC discussed to respond the common issues: To assist the small and medium enterprises is one of the Forum-wide priorities. Strengthening cooperation in the area of Small and Medium Enterprises in FEALAC was highlighted by establishing the Economy and Society Working Group at the 1st Foreign Ministers Meeting held in Santiago, Chile in 2001. 

In 2007, the Foreign Ministers of FEALAC reaffirmed the particular importance of the development of micro, small and medium enterprises continuing with initiatives, projects and fora aimed at building their capacity, including by strengthening entrepreneurship and developing human resources. The Ministers announced the “Decision on Small and Medium Enterprise” at the 3rd FEALAC Foreign Ministers’ Meeting in Brasilia, Brazil.

In 2010, the Ministers announced the “Decision on the Bi-Regional Center for the Development of Small and Medium Enterprises” at the 4th Foreign Ministers’ Meeting held in Tokyo for the establishment of the Bi-regional Center for the Development of SMEs.  

Ecuador, the host country of this FEALAC regional project, has done the feasibility study and got approved the project at the 6th Foreign Ministers’ Meeting held in Bali, Indonesia in 2013. The first stage of the project has been completed and Ecuador is now elaborating for the preliminary design (Beta version) of the SMEs center platform. ​