MIAMI, USA — The assistant secretary general of the Organization of American States (OAS), Albert Ramdin, called on ministers of trade and the private sector to take concrete measures to promote economic growth in the Americas, during the launch of a Miami Chapter of the Latin American Business Council (CEAL).
Organization of American States (OAS) Assistant Secretary General Albert Ramdin
Speaking with top business leaders from Latin America during the event, Ramdin said more intra and inter-regional trade within the Americas is critical for reaching the region’s economic growth potential. Intra regional trade in Latin America and the Caribbean accounts for less than 20% of total trade, said Ramdin, in contrast with 65% in the European Union, 52% in Asia and 50% in NAFTA countries.
The senior OAS official added that these low levels of regional economic integration in Latin America and the Caribbean remain a challenge to creating and expanding businesses and jobs in the region.
“If we are more organized and integrated, our region has the potential to alter the economic and commercial landscape in this global era,” said Ramdin, who also advocated the creation of a space for dialogue where ministers of trade and the private sector are able to discuss regional and global value chains.
The OAS assistant secretary general emphasized the key role of trade and regional integration in successfully adapting to changing global economics, while maintaining focus on issues of poverty, prosperity, peace and stability in the Americas.