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Latin America – Caribbean needs new diversification strategies amid a global shift in the rules of trade
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Caribbean News Global
He noted that, as ECLAC has been saying in recent months, Latin America and the Caribbean must escape the trap of low capacity for growth in which it is caught.
“That requires strategies in specific sectors; how to take advantage of strategic minerals, of certain strategic sectors: medical devices, modern services, etc.
With regard to international trade negotiations, ECLAC’s executive secretary stressed that the great benefit of multilateral rules is that, to the extent that the major powers submit to the rules of trade, certainty prevails.
He recalled that South America’s intraregional trade is around 13-14 percent of that subregion’s total trade.
Some are national strategies, and others will require collaboration between different governments and the private sector.