Latin America. According to the World Economic Forum , the development of renewable energy and regional integration drive Latin America's growth vision.
In this sense, he assures that "the export of renewable energy could be a central engine of economic growth in the region" whose integration could contribute to its global leadership in the transition to clean energies, due to some regional specificities that represent an advantage, such as the abundance of hydroelectric and solar energy.
On the other hand, it points to the need to "reduce corruption and rethink drug policies" as vital strategies in some nations. All this in the framework of the Annual Meeting of the World Economic Forum, which took place from January 16 to 20.
The document referenced Colombian President Gustavo Francisco Petro's request to build a "U.S. power grid from Patagonia to Alaska." Such connectivity would allow renewable energy producers in Latin America to sell energy to the United States and Canada.
Fernando Haddad, Brazil's finance minister, also agreed with statements about Latin America's potential to provide renewable energy. "We can make our continent the center of clean energy production." But he added that all this will depend on regional integration, as better coordination among the nations of the area would facilitate trade, integrate financial markets and improve infrastructure connections in energy, transport and other sectors.
For his part, Rodrigo Chaves Robles, president of Costa Rica, highlighted the good work of his country to join the supply chains. For its territory has actively promoted industries such as medical supplies, aerospace and administrative services. The leader of the nation believes that bilateral and multilateral trade agreements are necessary for the continued growth of these sectors.
However, in the Dominican Republic, small and medium-sized enterprises represent the core of the economy. "SMEs are 70 % of our productive base," said Raquel Peña, vice president of this country.
In that sense, reforms have focused on improving opportunities for SMEs, such as providing loans to entrepreneurs and developing free zones.
Guillermo Lasso Mendoza, president of Ecuador, pointed out that achieving growth requires managing diverse national needs. "Fighting corruption and controlling public spending frees up resources to invest in social issues."
Finally, and returning to Colombia, a challenge is also the violence related to drug trafficking. President Petro suggested that new agricultural opportunities could help stabilize cocaine-producing regions, where one idea involves converting cocaine production to cocoa production, with the help of multinational corporations. In addition, nations around the world could help reduce violence by promoting the decriminalization of some drugs and increasing prevention efforts focused on education.
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