The document summarizes the state of regional integration in Latin America and identifies key challenges. It notes that Latin American countries trade far less with each other than other regions do internally. While regional integration has reduced tariffs, there remain significant shortcomings like insufficient regulatory harmonization, weak dispute settlement, and complex overlapping integration agreements. For regional integration to maximize benefits, the document argues Latin American countries need to further facilitate intraregional trade as their most conducive path for export diversification, SME growth, and socially inclusive development.
Election 2018 - Ontario - Manufacturing Sector - May 2018paul young cpa, cga
Ontario needs to become more competitive as such more regulations and taxes will not help that cause.
Both the Liberals and NDP believe in higher taxes and more regulations.
In order to maximise the benefits of regional integration and look for new opportunities for competitiveness, policymakers, the private sector and development partners need access to accurate and comprehensive data on intra and inter-regional trade in Africa with respect to agricultural goods. It is in this context that CTA and the International Food Policy Research Institute (IFPRI) are launching the “African Agricultural Trade Status Report”, which examines the current status, trends and outlook in African trade performance, making an important contribution towards data and analysis of developments both at regional and at continental levels. The Report, which is released in conjunction with the Briefing, builds on the work by the Regional Strategic Analysis and Knowledge Support System (ReSAKSS) of CAADP and the African Growth and Development Policy Modeling Consortium (AGRODEP) trade and also reflects the CTA’s commitment to advancing knowledge and sharing of best practices relating to agricultural trade.
The Brussels Development Briefing n.47 on the subject of “Regional Trade in Africa: Drivers, Trends and Opportunities” took place on 3rd February 2017 in Brussels at the ACP Secretariat (Avenue Georges Henri 451, 1200 Brussels) from 09:00 to 13:00. This Briefing was organised by the ACP-EU Technical Centre for Agricultural and Rural Cooperation (CTA), in collaboration with IFPRI, the European Commission / DEVCO, the ACP Secretariat, and CONCORD .
Mamello Nchake
POLICY SEMINAR
Virtual Event - The African Agriculture Trade Monitor 2020
Co-Organized by IFPRI and AKADEMIYA2063
OCT 20, 2020 - 09:30 AM TO 10:45 AM EDT
Election 2018 - Ontario - Manufacturing Sector - May 2018paul young cpa, cga
Ontario needs to become more competitive as such more regulations and taxes will not help that cause.
Both the Liberals and NDP believe in higher taxes and more regulations.
In order to maximise the benefits of regional integration and look for new opportunities for competitiveness, policymakers, the private sector and development partners need access to accurate and comprehensive data on intra and inter-regional trade in Africa with respect to agricultural goods. It is in this context that CTA and the International Food Policy Research Institute (IFPRI) are launching the “African Agricultural Trade Status Report”, which examines the current status, trends and outlook in African trade performance, making an important contribution towards data and analysis of developments both at regional and at continental levels. The Report, which is released in conjunction with the Briefing, builds on the work by the Regional Strategic Analysis and Knowledge Support System (ReSAKSS) of CAADP and the African Growth and Development Policy Modeling Consortium (AGRODEP) trade and also reflects the CTA’s commitment to advancing knowledge and sharing of best practices relating to agricultural trade.
The Brussels Development Briefing n.47 on the subject of “Regional Trade in Africa: Drivers, Trends and Opportunities” took place on 3rd February 2017 in Brussels at the ACP Secretariat (Avenue Georges Henri 451, 1200 Brussels) from 09:00 to 13:00. This Briefing was organised by the ACP-EU Technical Centre for Agricultural and Rural Cooperation (CTA), in collaboration with IFPRI, the European Commission / DEVCO, the ACP Secretariat, and CONCORD .
Mamello Nchake
POLICY SEMINAR
Virtual Event - The African Agriculture Trade Monitor 2020
Co-Organized by IFPRI and AKADEMIYA2063
OCT 20, 2020 - 09:30 AM TO 10:45 AM EDT
The Pacific Alliance, that bring together Chile, Colombia, Mexico and Peru, has attracted much attention from many countries as the most dynamic regional integration scheme in Latin America. The group`s economies have been growing faster than other countries in the region and especially its projection into the East Asia is seen as very interesting.
For Peru the Pacific Alliance presents the best opportunity, together with the Free Trade Areas that it has signed with several Asian countries, to have greater economic relations with Asia, but specially to diversify it exports, now concentrated mainly in primary goods, as mineral, fishmeal, and natural gas.
This presentation will look at the impact of the middle class tax cut as well as other government policies on the middle class.
The focus will be on hydro rates, household spending, carbon taxation and income growth.
CDB's Deputy Director in the Economics Department, Ian Durant looks at the role of competitiveness in achieving sustainable growth in the Region, during the Governors' Roundtable discussion at the 46th Annual Meeting of CDB's Board of Governors in Montego Bay, Jamaica on May 19, 2016.
2015 Election Promise - Liberal Party of Canada – Goods to Market – Canada – ...paul young cpa, cga
Canada is export driven country. Canada exports about 25% of its GDP. Canada needs access to market.
For each $1B of exports lead to 5,500 jobs. The exports driven jobs tends to pay 30-50% more than the service sector.
The Pacific Alliance, that bring together Chile, Colombia, Mexico and Peru, has attracted much attention from many countries as the most dynamic regional integration scheme in Latin America. The group`s economies have been growing faster than other countries in the region and especially its projection into the East Asia is seen as very interesting.
For Peru the Pacific Alliance presents the best opportunity, together with the Free Trade Areas that it has signed with several Asian countries, to have greater economic relations with Asia, but specially to diversify it exports, now concentrated mainly in primary goods, as mineral, fishmeal, and natural gas.
This presentation will look at the impact of the middle class tax cut as well as other government policies on the middle class.
The focus will be on hydro rates, household spending, carbon taxation and income growth.
CDB's Deputy Director in the Economics Department, Ian Durant looks at the role of competitiveness in achieving sustainable growth in the Region, during the Governors' Roundtable discussion at the 46th Annual Meeting of CDB's Board of Governors in Montego Bay, Jamaica on May 19, 2016.
2015 Election Promise - Liberal Party of Canada – Goods to Market – Canada – ...paul young cpa, cga
Canada is export driven country. Canada exports about 25% of its GDP. Canada needs access to market.
For each $1B of exports lead to 5,500 jobs. The exports driven jobs tends to pay 30-50% more than the service sector.
Presentation for IDEV-6917-01 Development, Commerce, and Environmental Protection (f13) with instructor, Mario Mancilla Oct 25 2013 - 3:00pm to Oct 27 2013 - 1:00pm
DESCRIPTION:
This course involves a general examination of main concepts of Sustainable Development, trade and environmental protection and the analysis of some cases in order to apply the theoretical content to solving problems. It is an exploratory course designed primarily for students in a regular program of International Development. The objectives are:
1) To introduce students to basic concepts and problems of development, trade and environmental protection.
2) To introduce students to citizen’s submissions process under CAFTA-DR.
3) To introduce students to basic concept of case analysis in the frame of FTA’s .
Alberto Trejos - América Latina | A look at Central America
O Instituto Brasileiro de Economia (IBRE), da Fundação Getulio Vargas (FGV), realizou, no dia 19 de setembro de 2014, o seminário internacional A América Latina e as Novas Condições Econômicas Mundiais.
O evento abordou a questão das perspectivas latinoamericanas diante das mudanças impostas, entre outros fatores, pela desaceleração da China e pela gradual normalização da política monetária dos EUA.
O encontro foi organizado em três painéis, que incluiram desde estudos de casos nacionais — Argentina, Brasil, Chile, Colômbia e México — a apresentações mais abrangentes da economia da região como um todo ou parte dela.
Confira as fotos do evento e mais informações no site do FGV/IBRE: http://bit.ly/YdyhyL
Whitepaper: Latin America: Room for growthDubaiChamber
Latin America: Room for growth is an Economist Intelligence Unit (EIU) report, commissioned by Dubai Chamber. The report discusses the current economic and political climate in Latin America and explores sectors that present opportunities for economic growth—particularly trade-related infrastructure and the services sector. The findings are based on desk research and interviews with experts in the topic.
OECD Workshop on Regional Trade Agreements and the Environment Session 2.2 - ...OECD Environment
This workshop focused on key issues related to Regional Trade Agreements (RTA) and the environment. It had three main objectives: (i) to take stock of current experience and insights on RTAs and the environment from different stakeholders, and to establish a stakeholder dialogue on this topic; (ii) to investigate how RTAs can serve as a vehicle to advance a resource efficient and circular economy transition; and (iii) to explore the potential of RTAs in addressing the nexus of illegal trade and environmental crime
Latin American Economic Outlook 2013 SME Policies for Structural ChangeWesley Schwalje
The Organisation for Economic Co-operation and Development’s Economic Commission for Latin America and the Caribbean cites Tahseen Consulting's research while discussing the impact of workforce skills gaps on small and medium enterprise development.
THE IMPACT OF TRADE LIBERALIZATION ON ECONOMIC GROWTH; THE CASE OF SUB-SAHARA...AkashSharma618775
The main aim of this research is to explore the effect of trade liberalization on economic growth in subSaharan Africa by analyzing certain macro-economic indicators using Ordinary Least Squares approach to
estimate regression equations. Many developing countries have substantially liberalized their trade regime over the
past three decades, either unilaterally or as part of multilateral initiatives. Nevertheless, trade barriers remain
high in many developing countries. One of the concerns that attributes to the reluctance of many of these countries
to liberalize their trade regime is the possible worsening of the trade balance.
This research paper is meant to give a recommendation on which macro-economic indicators sub-Saharan African
countries should pay particular attention to, implementing the necessary policies to ensure its effectiveness thereby
ensuring a step-up in those aspects of the economy in order to promote development. It considers 46 different
countries with different economic policies in sub-Saharan Africa for a 14-year period. Most papers considering
sub-Saharan African region consider a selected few countries based on certain economic reasons of their choice,
and those who consider most countries in the region have different macroeconomic indicators they employ for their
modeling. This paper considers if not all, almost all sub-Saharan African countries regardless of their economic
status.
Keynote presentation on the launch of ASEAN Vision 2040, ERIA’s project in support of the Government of Thailand who is ASEAN Chair in 2019. The event was held in Jakarta on 30 August 2019 with the theme ‘Integration, Transformation and ASEAN Centrality’.
The presentation was made and delivered by Prof Dr Mari Elka Pangestu, Professor in Universitas Indonesia, former Minister of Trade and Minister of Tourism and Creative Economy for the Republic of Indonesia.
A Comparative Analysis of the Economies of the Netherlands, Singapore, the Dominican Republic and Puerto Rico from 1971 to 2016: Susceptibility to the Global Economic Crisis (GEC) of 2008
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El 17 de noviembre de 2015, organizamos en la Fundación Ramón Areces con el Fondo Monetario Internacional la jornada 'Perspectivas y desafíos de política económica en América Latina'. En ella se presentó y analizó el Informe del FMI 'Perspectivas económicas-Las Américas (octubre, 2015)'.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.
2014.05.20_OECD-ECLAC-PSE Forum_rosales
1. Latin American regional integration:
State of play and main challenges
Osvaldo Rosales
Chief, Division of International Trade and Integration
ECLAC
2nd Europe – Latin America Economic Forum
ECLAC, OCDE, Ecole d’Economie de Paris.
Paris, 20 May 2014
2. Outline
The region’s external economic environment
The evolving architecture and dynamics of
regional (economic) integration in LAC
Why is regional integration important for LAC?
Stocktaking and suggestions for the way
forward
2
3. A very favorable international cycle is
ending for LAC
• GDP growth decelerated since 2012, reaching 2.5% in
2013 ( 2.7% en 2014?)
– Compared to an average 4.8% in 2003-07 and 4.1% in 2010-13
• Exports slowed sharply in 2012 and stagnated in 2013
• Increasing external vulnerability, reflected in a
deterioration of the region’s current account position
• Lower commodity prices worsen LAC terms of trade
• Withdrawal of monetary stimulus in the US reduces
available liquidity
• In the coming years, greater emphasis will have to be
placed on the regional market as a source of growth
4. Regional exports slowed sharply
in 2012 and 2013
LATIN AMERICA: ANNUAL GROWTH OF THE VALUE OF EXPORTS, 2000-2013
(Percentages)
Source: Economic Commission for Latin America and the Caribbean (ECLAC), on the basis of official figures .
5. The region’s terms of trade are declining
LATIN AMERICA: ESTIMATED RATE OF VARIATION IN THE TERMS OF TRADE, 2011-2013a
(Percentages)
Source: Economic Commission for Latin America and the Caribbean (ECLAC) on the basis of official figures
a The figures relating to 2013 are projections.
6. Very modest growth is predicted for the region
for the remainder of the decade
DEVELOPING REGIONS: PROJECTED ANNUAL GDP VARIATION, 2014-2019
(Percentages)
Source: International Monetary Fund, World Economic Outlook database, April 2014.
7. Main trends in the global context
Rapid technological
change
• Information
technology, cloud
computing, cyber-servicies,
“smart
cities”
• 3-D printing,
robotics, remote-controlled
vehicles
• Biology,
nanosciences and
information
sciences interface
• Energy, water and
natural resources
complex
Emergence of the
developing countries
• In growth,
trade, FDI, rise
of the middle
class, patents,
new
technologies
• This process is
highly
concentrated
in China/Asia
• LAC lags
behind
Value chains
• Three major
factories:
• North
America
• Europe
• East Asia
Mega-regional
trade agreements
• TPP
• TTIP
• EU-Japan
• ASEAN+6
(Regional
Comprehensive
Economic
Partnership)
Need to address climate change and ensure that growth is environmentally sustainable
Need to address the drastic increase in inequality worldwide
8. LAC’s main strengths and weaknesses in the
global economy
• Attractive and growing consumer
market; expansion of the middle
class
• Abundance of renewable and
non-renewable natural resources
Strengths
• Limited involvement in
the knowledge economy, low and
heterogeneous productivity
• Strong concentration of exports:
(i) in raw materials and assembly
manufactures; and (ii) in a small
number of large companies
Weaknesses
9. The architecture of LAC economic integration in
the early 2000s was (relatively) simple…
Dominican
Republic
9
Andean
Community
(1969)
Mexico
MERCOSUR
(1991)
Central American
Common Market
(1960)
CARICOM
Panama (1973)
Chile
NAFTA
(1994)
Cuba
ALADI
(1980)
10. …That architecture has become much more
complex in 2014
Central
American
Common
Market
Panama CARICOM
Andean
Community
Mexico MERCOSUR
Chile
NAFTA
Cuba
Dominican
Republic
ALADI
Pacific
Alliance
(2012)
ALBA (2006)
Plus:
- UNASUR (2007, All 12 SA countries)
- CELAC (2010, All 33 LAC countries)
11. The dynamics and emphasis of LAC regional
integration have greatly changed in the last decade
• Several governments have a critical view of “the primacy of
trade” in LAC regional integration during the 1990s
• Greater primacy is given now to the political and social
dimensions, along with production integration (mainly rhetorical)
• New initiatives (CELAC, UNASUR, ALBA, Pacific Alliance); crisis in
several traditional integration bodies; overlapping memberships
• These trends have been more marked in South America than in
Mexico, Central America and the Caribbean
• Traditional shortcomings (ex. low intra-regional trade and
production integration) coexist with increasing “de facto”
integration (migration, tourism, FDI, etc.)
12. The regional market plays a key development role
for LAC countries
For the large majority of Latin American and Caribbean countries,
intraregional trade is qualitatively superior to exporting
to other markets:
It is the most
conducive to
export
diversification
as it absorbs
the greatest
number of
export
products
It is the main
outlet for
manufacturing
exports
It is the main
market for
most export
companies,
especially
SMEs
The region is
the natural
platform for
the expansion
of Translatin
companies and
for the
creation of
RVCs
13. The regional market is the most conducive to
export diversification
NUMBER OF PRODUCTS EXPORTED BY LATIN AMERICAN COUNTRIES TO SELECTED MARKETS, 2012
Latin America
and the
Caribbean
United States European Union China Japan
Argentina 3 591 1 465 1 712 407 388
Brazil 3 929 2 762 2 991 1 389 1 247
Chile 3 014 1 275 1 296 362 313
Colombia 3 239 1 708 1 250 253 201
Costa Rica 2 821 1 792 1 095 260 188
El Salvador 2 522 1 004 396 45 35
Guatemala 3 274 1 321 721 142 155
Jamaica 607 888 467 73 44
Mexico 3 857 4 164 2 803 1 367 1 272
Peru 3 037 1 796 1 602 266 575
Source: ECLAC, on the basis of COMTRADE.
14. Excluding Mexico, the regional market is the main outlet
for manufactures exported from LAC
LATIN AMERICA AND THE CARIBBEAN: SHARE OF MEDIUM- AND HIGH-TECHNOLOGY MANUFACTURES
EXPORTED WITHIN THE REGION, 2012 a
(Percentages)
Source: ECLAC, on the basis of information from the United Nations Commodity Trade Database (COMTRADE).
a The figures for the Bolivarian Republic of Venezuela, Panama and Suriname are from 2011.
15. However, Latin America trades little with itself
when compared to other regions
Selected groupings: Share of intra-group exports in total merchandise exports, 2008-2012
(In percentages)
Region or grouping 2008 2009 2010 2011 2012 Average
2008-2012
Latin America 19,5 19,9 19,7 19,4 18,5 19,4
Latin America (excluding Mexico) 25,6 26,6 26,3 24,9 24,1 25,5
Intra-Andean Community 7,4 7,4 8,0 7,0 7,5 7,5
Intra-MERCOSUR 14,9 15,1 15,7 15,2 14,4 15,1
Intra-Central America 29,5 26,6 26,7 26,2 23,0 26,4
Intra EU 66,3 65,9 64,4 63,4 62,2 64,4
Intra NAFTA 49,3 47,6 48,3 48,0 48,4 48,3
Intra ASEAN+5 (*) 47,0 48,4 49,4 49,7 50,5 49,0
Fuente: CEPAL, sobre la base de COMTRADE y estadísticas oficiales de los países de América Latina.
(*) Incluye a ASEAN (10), China, Japón, la República de Corea, la Región Administrativa Especial china de Hong Kong y la Provincia china de
Taiwán.
16. Intermediate goods account for a small share of
intraregional trade in LAC, a sign of limited production
integration
SELECTED GROUPINGS: PARTS AND COMPONENTS AS A SHARE OF INTRA-GROUP EXPORTS, 2000-2012
(Percentages)
Source: ECLAC, on the basis of COMTRADE.
a North American Free Trade Agreement.
b Includes China, Japan, the Republic of Korea, the 10 member countries of the Association of Southeast Asian Nations (ASEAN),
Hong Kong Special Administrative Region of China and Taiwan Province of China.
17. LAC’s infrastructure bottlenecks constrain growth,
competitiveness and equity
LATIN AMERICA (SELECTED COUNTRIES): SECTORAL INVESTMENT IN INFRASTRUCTURE
(Percentages of GDP)
Source: ECLAC and Perrotti, Daniel, and Ricardo J. Sánchez (2011), “La brecha de infraestructura en América Latina y el
Caribe”, Series Recursos Naturales e Infraestructura No. 153.
The region would need to spend 7.9% of annual GDP on infrastructure to close by 2020
the infrastructure gap measured in the region in 2005 compared with a group of growing
economies in East Asia (Republic of Korea, Malaysia, Singapore and Hong Kong SAR).
18. Regional economic integration: Taking stock
Strengths
• Substantial progress in
reducing tariff barriers to
intraregional trade
• Some regional cooperation in
infrastructure (roads, energy,
internet access, etc.)
• Some progress on easing
people mobility
• Some financial cooperation
(Latin American Reserve
Fund, integration of stock
exchanges of Chile, Colombia
and Peru)
Shortcomings/challenges
• Insufficient regulatory
harmonization: investment,
services, technical standards,
public procurement, trade
facilitation, IPRs
• Weak dispute settlement
mechanisms
• Missing trade links, notably a
Mexico-Mercosur FTA
• Complex integration
architecture, membership
overlaps
19. LAC trade integration: Taking stock (2)
• Geography and factor endowment also limit intra-regional trade:
– Mexico, Central America & Caribbean gravitate towards the US market
– Resource-rich South America increasingly gravitates towards Asia
• Lags in infrastructure, red tape are a tax on intraregional trade
• Policies aimed at export diversification, SME internationalization
have proved insufficient
– A few large firms, mostly in energy & mining, account for the bulk of LAC
exports
– Those firms export mostly outside the region
• The region remains mostly out of value chain trade
– Exceptions: Mexico, Central America with US; Argentina-Brazil auto trade
• Mega regional trade agreements may reinforce this situation
– South America in particular may become further entrenched in commodity
exports
20. Which way forward?
LAC needs to maximize the benefits of intraregional trade, as it is:
The most conducive to the creation of high-quality employment
The most SME-friendly
And thus the most conducive to structural change, socially cohesive growth
Start by not doing harm: respect the agreed rules
Be pragmatic: small, incremental steps in areas of common interest
often deliver more than grand projects with no follow-up
Further trade liberalization remains controversial within the region,
but there is much that can be done in other areas:
Regional cooperation in infrastructure, energy, trade facilitation, joint export
promotion
Promoting production integration through cumulation of origin,
harmonization or mutual recognition of technical & SPS standards
Ensuring adequate financing for intraregional trade, especially for SMEs
21. The centrality of industrial policy
• LAC needs a modern industrial policy that fosters:
– Participation in regional and global value chains
– Moving up the VC hierarchy, transitioning to more sophisticated activities
in goods and services
• The promotion of regional value chains opens up scope for
industrial policy with plurinational components, for example:
– Programs that help SMEs to meet the requirements of their potential
buyers (quality, safety, sustainability, etc.)
– Joint programs for the development of specialized human resources
– Joint research, development of technology hubs in areas of shared
interest (renewable energy, biotechnology applied to agriculture and
mining, etc.)
• None of this means “leaving natural resources behind”
– On the contrary, it means adding knowledge and value to them, and
strengthening their linkages with the rest of the economy
22. Due to their economic size, the Pacific Alliance and
MERCOSUR are the two key players for the future
convergence of LAC integration efforts
Pacific Alliance, MERCOSUR and LAC: Selected indicators (2012)
Grouping GDP
(US$ trillion)
Population
(Millions)
Exports
(US$ billion)
FDI inflows
(US$ billion)
Pacific Alliance (PA) 2,0 209 554 71
MERCOSUR 3,3 278 436 84
PA + MERCOSUR 5,3 487 990 155
Latin America and
Caribbean
5,8 596 1.092 173
Share of PA+MERCOSUR 91% 82% 91% 90%
Source: ECLAC (exports and FDI), IMF, World Economic Outlook Database (GDP and population).
Therefore, they need to reach out to each other and begin exploring areas for cooperation
and possible convergence