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Every year on June 27th, Micro, Small and Medium-sized Enterprises (MSMEs) Day is celebrated to honour their role in achieving the Sustainable Development Goals (SDGs). Small and medium-sized enterprises (SMEs) account for up to 90% of businesses, 60% to 70% of employment, and they account for half of global GDP, according to the United Nations (UN).
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Australia is a country with a stable political and economic environment, diverse population, and a high standard of living. These factors make it an attractive destination for businesses seeking to expand their operations globally. Australia has a well-developed infrastructure, including a strong telecommunications network, modern transportation system, and advanced healthcare facilities.
Singapore is a thriving economy located in Southeast Asia, and it is known as one of the most business-friendly countries in the world. The country has a robust infrastructure, political stability, low corruption rates, and a highly skilled workforce, making it an ideal location for businesses looking to expand in the Asia-Pacific region.
Global real exports and imports are forecasted to grow by just 3.7% and 3.9%, respectively. Asia-Pacific real exports (excluding the Russian Federation) are expected to grow 3.0%, while imports will contract by 0.3%. Nominally, merchandise trade in Asia and the Pacific in 2022 is forecasted to total US$ 19.0 trillion in 2022.