The Philippines is a net exporter of services due to a strong IT-BPM sector. As companies increasingly move some of their operations and production or manufacturing processes to other countries, such as the Philippines, more Filipino micro, small, and medium enterprises (MSMEs) are drawn into the global value chain. This creates more employment and business opportunities.

Reforms and agreements made during the APEC meetings in the Philippines this year will unleash the potential of the services sector to contribute further to growth and employment generation.

Click here to read the primer on the Philippine Services Sector and APEC.