The pandemic is predicted to have a significant negative impact on international trade. According to WTO projections, Latin America and the Caribbean’s exports and imports are expected to experience a pronounced decrease this year, reaching at least 13% and 22% respectively --in line with the estimates for the world. Available aggregate data confirm that the region’s trade … [Read more...] about Trade in the Time of Pandemic: How COVID-19 has impacted firms in 6 Latin American countries
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Boosting trade cooperation with Korea
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
The resilience and transformation of Customs authorities during COVID-19
Over the past few months, Customs authorities in Latin America and the Caribbean have had to work hard and think outside the box in response to the COVID-19 pandemic. Tons of personal protective equipment, including masks, gowns, medical devices, medicines, and disinfectant products, as well as food and other necessities, have passed through these agencies. Those shipments … [Read more...] about The resilience and transformation of Customs authorities during COVID-19
Short-sea shipping: A solution to Caribbean logistics challenges?
Caribbean islands face significant competitive disadvantages in trade because of a variety of factors — including the size and nature of their economies and their geographic location, which necessitates a reliance on maritime and air transport for most of their import and export needs, with 90 percent of goods being transported by sea. At the same time, maritime transport and … [Read more...] about Short-sea shipping: A solution to Caribbean logistics challenges?
The Spaghetti Bowl and International Supply Chains
Latin America regional integration can be characterized by the co-existence of multiple trade agreements: there are 33 of these in total, their membership is limited in scope, and they generally act as separate silos which lack important interconnections between them. Common sense indicates that while this “spaghetti bowl” of agreements might encourage production linkages … [Read more...] about The Spaghetti Bowl and International Supply Chains