All great things come to an end! We have reached the conclusion of the 2018 Ministerial Conference on SMEs. My thanks to the Mexican Government for hosting us, and for its leadership in elevating SME issues on the international policy agenda.
I am delighted to open the 2018 OECD SME Ministerial Conference on “Strengthening SMEs and Entrepreneurship for Productivity and Inclusive Growth”.
It is my pleasure to present the 2018 OECD Scoreboard on Financing SMEs and Entrepreneurs. This is the seventh edition of our annual flagship publication, which now covers 43 countries. I’d like to thank Minister Guajardo for his support on this important topic.
The global economy is now growing at its fastest pace since 2010, with the upturn becoming increasingly synchronised across countries.
Thank you for inviting me to this distinguished event. You meet at a critical time for the steel business as there is a lot at stake for the months to come. Let me start with the big picture.
It is a pleasure to be here today to launch the 2017 OECD Scoreboard on Financing SMEs and Entrepreneurs. It is an honour to welcome Minister Padoan, an old friend of the OECD, here at our Washington Centre. And it is a very timely moment to take a closer look at the issue of SME finance.
Presentations and main topics discussed at the 81st Session of the Steel Committee held in Paris, 8 September 2016.
Thank you for your welcome, and thank you to the Washington International Trade Association for hosting today’s event. The OECD is a longstanding advocate of open markets. I am delighted to be among so many ‘‘friends of trade’’ to share the OECD’s latest data, analysis and reflections on developments in the global trade landscape.
SMEs typically account for more than half of business sector activity and around two-thirds of employment. Young SMEs, in particular, contribute disproportionately to creating jobs. Yet business dynamics have been slowing in most of our economies, limiting SMEs’ contributions to investment, growth, jobs and social inclusion, at a moment when they are sorely needed.
The OECD will draw on its multidisciplinary expertise, data, and tools – along with our ground-breaking work on climate finance, fossil fuel subsidy reform, measuring effective carbon prices, and policy alignment for a low-carbon economy – to deliver timely and evidence-based insights for this project, which has four main objectives.