More women should be encouraged and supported to engage and succeed in global trade, said the International Trade Centre (ITC) as it marked International Women’s Day on March 8.

To unlock women’s economic potential, ITC underlines seven ways governments, institutions, and the private sector can empower women all over the world, including women in the Philippines.

l. Champion quality data. Information on male and female entrepreneurs should be separated so that the progress of women can be adequately tracked.

2. Enact fair policies. Pass fair policies that will allow more women to join international trade.

3. Secure government contracts. Give more procurement contracts to women. The ITC says this is because companies represented by women are not only more efficient, but the profits from those companies mostly go to the whole family.

4. Strike business deals. The corporate sector is always looking for new products and new solutions. Encourage women to take this opportunity to promote their products and services, especially those that bring cost-effective, more-timely solutions.

5. Enable market access. Guide and assist women entrepreneurs to develop the business skills they need to access new markets.

6. Unlock financial services. Because women are newcomers to the world of business, they must be provided equal access to financial resources so they can put their ideas and creativity to work.

7. Grant ownership rights. Giving women ownership rights to their businesses and properties gives them a voice to influence policies as well as the power to create jobs.

ITC is the joint agency of the World Trade Organization and the United Nations that supports the entry of small and medium enterprises in international trade. – RCA

Photo: ADB

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