The COVID-19 pandemic significantly impacted the growth of the region, the paralysis of economic activities as a result of the virus containment measures led to the closure of companies, destruction of jobs, impact on global supply chains and the collapse of markets. regional health systems.
It should be noted that countries in the region had been experiencing negative growth rates prior to the arrival of the pandemic, which placed the economies in a much more vulnerable situation. Thus, the region’s average growth was 0.2% in 2019.
With the arrival of the pandemic, the regional scenario for 2020 resulted in a contraction of -7.0%. However, the forecast for 2021 is more favourable, the stimulus measures taken by the governments to stimulate key sectors of the economies have had an effect, in this sense the growth rate for the end of the year is estimated at 6.3% according to IMF figures.
In this context, the thematic axis: Economic Recovery, contemplates the following goal:
Stimulate economic growth by strengthening regional integration processes, contributing to the design of public policies that facilitate trade and promoting the SME business ecosystem.
Taking into account the importance of coordinated decision-making to address adverse situations, such as interruptions in global supply chains, the armed conflict between Russia and Ukraine, and the reduced dynamism in foreign trade, this program aims to:
Build a common regional agenda among integration blocs for the development of economic policies that contribute to the growth of Latin America and the Caribbean.
The commercial activity in the region has been severely affected by the disruption of global supply chains, leading not only to a 9.2% contraction in regional exports in 2020 but also to a substantial increase in freight costs, commercial cargo insurance, and uncertainty due to goods shortages. In this context, this program aims to:
Design public policies that reduce costs and barriers in trade, open new markets, and position Latin America and the Caribbean’s trade in international markets.
Small and medium-sized enterprises account for 60% of the region’s employment and contribute 25% to the GDP of Latin America and the Caribbean. Therefore, addressing this sector is essential. This program aims to formulate public policies to promote productive sectors, strengthen business models, and develop new markets for the regional SME ecosystem.
July 27 to 29, 2017
