By: Amira Ahmed
Johannesburg – Pamela Coke-Hamilton, Executive Director of the International Trade Centre (ITC), has called for urgent and extraordinary support for small and medium-sized enterprises (SMEs), highlighting their critical role in global economic development.
Speaking at the Trade Promotion Organizations Leadership Dialogue, held ahead of the first-ever Global Ministerial Conference on SMEs, Coke-Hamilton emphasized that SMEs represent over 90% of all businesses in most economies, contribute more than half of total employment, and are essential drivers of local economic growth.
She expressed deep appreciation to the South African Department of Small Business Development for co-hosting the international event and for their strong partnership.
Coke-Hamilton outlined a host of growing challenges that SMEs face today—from rising trade tensions and fluctuating tariffs to the escalating impacts of climate change and shrinking development aid budgets. She noted that the OECD anticipates a decline of up to 17% in official development assistance (ODA) this year, amid expectations of additional tariff increases starting August.
Highlighting the economic value of trade promotion efforts, she pointed to evidence from Europe showing that every additional euro invested in a trade promotion organization can generate up to €172 in exports and €400 in GDP.
She also underscored the importance of collaboration, noting that the International Trade Centre works with 780 business support organizations in more than 160 countries, giving the agency direct access to over 2 million SMEs globally.
“Supporting SMEs is no longer an option—it is a necessity,” she stressed. “These enterprises are not just the backbone of our economies; they are the engine of inclusive and sustainable growth”.
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