Latin America’s possibilities for growth and competition in the global market should focus on innovation and forging closer ties with Asian Pacific nations, which have become the world’s main pole of economic growth, states the Economic Commission for Latin America and the Caribbean (ECLAC) -the Spanish acronym is CEPAL- in two reports.
The documents were presented by ECLAC Executive Secretary Alicia Bárcena during the VI Ministerial Meeting of the Latin American Pacific Basin Forum held in Cuzco, Peru.
In the first report, Science and Technology in the Latin American Pacific Basin: Opportunity for Innovation and Competition, ECLAC suggests that innovation is a central element in development strategies because it gives way to sustainable, long-term economic growth with equality and competitiveness.
In the document The Latin American Pacific Basin: Creating Paths for Complementation and Integration with Asia, ECLAC asserts that closer ties with the Asia Pacific region may require more institution-building in the Pacific Basin as a way to boost its identity before Asian nations.
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