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European Trade Promotion officials step up collaboration to support SMEs
Senior officials from trade promotion organizations across Europe agreed to step up collaboration in support of European exporters – especially small- and medium-sized enterprises – buffeted by growing uncertainty in international trade.
This month’s annual meeting of Trade Promotion Europe, which was held in Athens, focused on four key areas: a changing geopolitical environment, the rise of AI, increases in defense spending, and European Union financing schemes in support of SMEs.
“SMEs are not just small businesses – they are the heart of Europe’s global competitiveness. But in this era of uncertainty, they need support,” says TPE President Vasso Kyrkou. “TPE is here to provide that support with practical tools, strategic cooperation, and a shared commitment to help European SMEs thrive.”
SMEs represent 99% of all European businesses, create around two-thirds of private-sector jobs in the EU, and generate more than half of Europe’s value added. Many are also exporters: 98% of EU exporters are SMEs and collectively account for more than one-third of EU export value. But recent geopolitical uncertainty is weighing on business strategies. A recent survey showed that 80% of European firms see sudden tariff changes as one of the biggest risks to their supply chains.
Founded in 2018, TPE represents 32 member organizations across Europe which, combined, operate more than 240 offices within the EU and overseas that support more than 70,000 companies each year. According to a recent TPE Impact Study, every €1 invested in trade promotion generates an average of €172 in exports and €396 in GDP growth.