Like their colleagues around the world, trade ministers in Latin America and the Caribbean (LAC) can barely get a break these days. Backlashes against globalization at home and abroad were swiftly followed by a public health crisis and geopolitical tensions that revived long-dormant calls for protection. As if that wasn’t enough, trade policy has also been called to play a role … [Read more...] about Can trade policy contribute to fighting global warming in Latin America and the Caribbean?
Trade Facilitation
Korea and Latin America and the Caribbean: Partners for Sustainable Trade and Investment
Trade and investment relations between Korea and Latin America and the Caribbean (LAC) have come a long way. As the two economies embraced trade liberalization in the early 1990s, their bilateral trade grew at an impressive annual rate of 11.5%—reaching a record high of US$57 billion in 2021. The trade boom came along with US$26 billion in investments by Korean firms in the … [Read more...] about Korea and Latin America and the Caribbean: Partners for Sustainable Trade and Investment
Technical measures: the not so visible barriers to trade
When you buy a new TV, you don't expect to get an electric shock while plugging the cord into the outlet or burn your hand while handling the remote control. The truth is that no one expects to suffer a misfortune when they get ready to watch their favorite show or streaming series. That is why most countries in the world impose regulations on the marketing of many goods - not … [Read more...] about Technical measures: the not so visible barriers to trade
How are Global Shipping Disruptions Affecting Latin American Freight Rates?
In a recent blog post, we showed that shipping costs have substantially increased since the beginning of the pandemic and that such an increase was primarily associated with imports from Asia. In this new post, we explore whether and, if so, how such developments generated a domino effect on the transportation costs faced by Latin American and Caribbean countries … [Read more...] about How are Global Shipping Disruptions Affecting Latin American Freight Rates?
A Year and a Half into the Pandemic: How Did Cross-Border E-Commerce Evolve?
Cross-border e-commerce initially contracted in Uruguay because of the pandemic but started to show a pronounced recovery in mid-2020. Data on all credit and debit card purchases made abroad in the framework of the country’s franchise regime revealed that it decreased significantly between January and May 2020.[1] The aggregate annualized value of these purchases from Uruguay … [Read more...] about A Year and a Half into the Pandemic: How Did Cross-Border E-Commerce Evolve?