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From Arancha González, Executive Director, International Trade Centre:
“Women continue to be one of the greatest untapped resources in the economic and development arsenals of governments. Unlocking the economic potential of women entrepreneurs can add up to $28 trillion to the world’s GDP by 2025, according to the McKinsey Global Institute. Yet legal, regulatory, cultural, financial, and digital barriers continue to prevent women from fully contributing to our economies. In an effort to dig deeper into this phenomenon, the International Trade Centre (ITC), the joint development agency of the World Trade Organization and the United Nations, has undertaken a series of data gathering exercises and analyses to better understand the barriers that continue to prevent women from reaching their full potential as equal economic actors.
We are pleased to launch this report as one in a series of three publications examining women entrepreneurship in the services sector in Kenya, Indonesia and Sri Lanka. This report builds on ITC’s SME Competitiveness Survey and leverages the SheTrades country experience to highlight the barriers to growth for women-owned micro, small and medium-sized entrepreneurs (MSMEs) in Indonesia’s services sector. It highlights how policymakers, development actors, trade and investment support institutions and the private sector can build upon the recommendations to set policy and design interventions to support greater women’s economic empowerment.
Launched in 2010, ITC’s SheTrades Initiative aims to connect 1 million women to markets by 2020, by linking them to trade and investment opportunities. The initiative has mobilized a network of more than 800,000 women entrepreneurs, facilitated access to markets for more than 15,000 women in business, and has helped generate more than $70 million in trade for women.
With support from the Government of Australia’s Department of Foreign Affairs and Trade, the SheTrades Indian Ocean Rim Association project improves the competitiveness of women-owned MSMEs in Kenya, Indonesia, and Sri Lanka and helps them reach international buyers.
The findings in this report feed into the ongoing, global work on the United Nations Sustainable Development Goals and it is our hope that it can be an important resource to support greater integration of women into the services sector.”
Download the report here
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