With global value chains (GVCs) playing a prominent role in the international trading system, integrating SMEs into GVCs brings benefits, but also faces challenges. This study follows a qualitative analysis that identifies the strengths, weaknesses, opportunities and threats (SWOT) for small and medium enterprises (SMEs) in the Asia - Pacific Economic Cooperation (APEC) region to participate in the value chains of five selected sectors. Due to the features and challenges pertaining to each sector, it is hard to suggest a list of "one size fits all" policies to facilitate the participation of SMEs in GVCs. Instead, this study suggests some policy principles and best practices to increase the chances for SMEs to play an important role in GVCs.