Over the last 20 years, Korea has become one of Latin America and the Caribbean’s (LAC) most dynamic trade partners. Bilateral trade quadrupled, reaching US$43 billion in 2018, and foreign direct investment from Korea in LAC has both increased and diversified. Korea is the Asian economy with the largest network of free trade agreements with LAC countries, with a total of … [Read more...] about Boosting trade cooperation with Korea
Born global companies take center stage
When Esteban Torres and Enrique Santacruz started Fiweex in Asunción, Paraguay, in 2015, they knew that at some point they would have to offer their services in other countries if they wanted the company to grow and be profitable. That’s exactly what happened. The startup, which enables consumers to connect to WiFi in shops, hotels, and restaurants without the need of a … [Read more...] about Born global companies take center stage
Latin Americans: On Board with Trade
How do Latin Americans feel about international trade? Are they in favor of it? If so, to what extent? We asked these questions ourselves at the Inter-American Development Bank, as part of a study on how trade liberalization has impacted Latin America and the Caribbean (LAC) in recent decades. To answer these questions, the IDB added a module on foreign trade to the 2018 … [Read more...] about Latin Americans: On Board with Trade
Innovations transforming the food and beverage industry
By 2050, the production of food will need to grow about 70% to meet the demand of more than 9 billion people from around the world. And as one of the largest net global exporters of food, Latin America and the Caribbean (LAC) will have immense opportunities to tap this growing market. LAC is expected to average a 2.6% food and beverage industry growth from 2016-2021, ahead … [Read more...] about Innovations transforming the food and beverage industry
How the Pacific Alliance linked up its single windows for foreign trade
One of the goals of the Pacific Alliance (PA), the economic bloc made up of Chile, Colombia, Mexico, and Peru, is achieving an area of deep integration where goods and services are traded tariff-free without facing other barriers to trade. To this end, in addition to eliminating tariffs, now covering more than 98% products on average, the PA has implemented innovative trade … [Read more...] about How the Pacific Alliance linked up its single windows for foreign trade