The newly-formed Philippine Trade Facilitation Committee (PTFC) will help micro, small and medium enterprises (MSMEs) to actively participate in international trade and broaden their access to global value chains, the Finance department said.

Finance Secretary and PTFC Chairman Carlos Dominguez 3rd during the first meeting of the committee said its primary task of streamlining trade processes and modernizing major customs operations will be beneficial to MSMEs, which often lack access to the global markets and have no financial capacity to overcome the inefficiencies of the trading system.