12 Nations from Latin America and Caribbean cumulate to ensure Economic Growth

Foreign Ministers from twelve Western Hemisphere countries arrived in Washington this week for high-level talks on ways to boost economies across Latin America and the Caribbean.

Chief on the agenda were investments in such areas as clean energy, cybersecurity, and semiconductors. The meeting was convened by US Secretary of State, Antony Blinken as part of the Americas Partnership for Economic Prosperity (APEP).

The Ministers agreed on six essential work streams, which include entrepreneurship, the digital economy, clean energy, infrastructure, sustainable food production and security, and the rule of law.

The work streams are designed to move out of dialogue and into actual projects with the ultimate objective of making the Americas the most economically competitive region in the world.

The forum will attract semiconductor investments to the region and support small- and medium-sized businesses that seek financing in the region. There is also a focus on education, particularly in the areas of cybersecurity.

The US seeks partnerships with the nations of Latin America in clean hydrogen projects through the breadth of its technology capabilities. The following are some countries, leading several programs: Uruguay, Chile, Ecuador, Peru, Canada, US, and Mexico.

Mexico will announce a national clean energy strategy in the coming weeks. Jose W. Fernandez, US undersecretary of state for economic growth, energy and the environment, said she had already witnessed actual enthusiasm in working together on issues that were foremost and center.

Blinken further described how Americas Partnership Platform, Inter-American Development Bank, and US International Development Finance Corporation are offering technical support and finance that would help leverage private sector investment in infrastructure across the hemisphere. Already, groundwork has been laid for $3 billion worth of sustainable and strategically significant projects.

The ministers also focused on the rule of law and transparency, working with the Organization of American States to implement best practices and reduce corruption in government contracting.

There were also some identified concrete projects by the Minister of Foreign Affairs of Costa Rica, Arnoldo André, an entrepreneur training center in Uruguay, a talent development center in Costa Rica for new industries such as semiconductors, which is expected to directly and positively impact local populations.

Costa Rica will be the venue where the leaders from 12 countries will meet early next year to follow up on these initiatives. Barbados, Canada, Chile, Costa Rica, Colombia, Dominican Republic, Ecuador, Mexico, Panama, Peru, United States, and Uruguay are the founding members of APEP.