WASHINGTON,USA – A new study by the Inter American Development Bank (IDB) is urging Latin America and the Caribbean (LAC) to do more to facilitate trade in order to boost exports.
“Three years of sluggish growth in the exports of Latin America and the Caribbean make it urgent to implement policies that facilitate trade,” notes the study, entitled “Trade and Integration Monitor 2014”.
It notes that the fall in international demand and in the prices of many basic goods that are exported from the region highlight pre-existing vulnerabilities in the external sector.
Despite efforts to diversify exports, the study notes that over the past decade, the region’s export basket has been concentrated on basic goods and their by-products, making Latin America and the Caribbean vulnerable to fluctuations in price and demand.
Published in the Jamaica Observer
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