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The G20 initially focused on broad macroeconomic policy, but ha
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Focusing largely on standards and regulations, both crucial to a firm’s generic value chain, the report found however that when authorities take steps to reduce compliance costs, the competitiveness of SMEs is greatly improved.
It also underlined an important shift which is seeing more and more developing countries setting voluntary sustainability standards (known as VSS, these are set by businesses and NGOs) which govern international trade together with public standards and regulations.
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and Development, over a third of new voluntary standards are thought up in developing countries, up from eight percent in 1990.
The outlook also outlined that many regions across the world can increase their export potential “by directing regulatory efforts to boost SME competitiveness.”
In the Middle East and North Africa region for example, researchers found there is large untapped export opportunity in the fresh and processed food sec
tor, while metal and basic manufacturing represent 28.4 percent of Eastern Europe and Central Asia’s unexploited export potential.
In China, ITC estimated that telephone sets have an unrealized export potential of more than $100 billion, while other prod
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held a meeting in Tokyo on May 26-27 to work out policy recommendations for the leaders.
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Serving as a co-host of the fair for the first time, South Africa has brought over more than 50 companies – covering serv
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