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ALADI, CAF and ECLAC Constitute a Latin America-Asia-Pacific Relations Observatory

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The project of the Latin America-Asia-Pacific Relations Observatory, seeking to promote cooperation and strengthen links between the countries of both regions, was presented on Thursday 31 May at the Latin American Integration Association (ALADI) Headquarters in Montevideo, Uruguay.

The event was chaired by the Minister of Economy and Finance of Uruguay Fernando Lorenzo; the Secretary General of ALADI Carlos Álvarez; the representative of the Development Bank of Latin America (CAF) in Uruguay Gladis Genua; the President of the Committee of Representatives of ALADI Casio Luiselli; and the Director of the International Trade and Integration Division of the Economic Commission for Latin America and the Caribbean (ECLAC) Osvaldo Rosales.

High-level authorities of ALADI member countries and the ambassadors of the People's Republic of China, the Republic of Korea, Japan, the Philippines, Malaysia, Thailand, Vietnam and Indonesia also took part in the event.

The main objective of the Observatory - a joint initiative of ALADI, CAF and ECLAC - is to monitor the economic relations between Latin American and Asian-Pacific countries in a systematic, plural and interdisciplinary manner. It also aims to create a discussion board for the analysis of strategic topics concerning these relations, as well as to stimulate topic convergence in the global agenda.

This new instrument will have a website through which periodical publications drafted by the Observatory itself will be disseminated, as well as works of academic or business centers doing research on these issues. Likewise, it will generate updates and disseminate information on trade, investments, negotiations and trade agreements, as well as on cooperation and the evolution of connectivity between both regions.

At the event, ECLAC presented its book China and Latin America and the Caribbean: Building a strategic economic and trade relationship, coordinated by Osvaldo Rosales and Mikio Kuwayama, official at the organization's International Trade and Integration Division.

In its presentation, Rosales mentioned that the trade and economic linkages between Latin America and China are the most outstanding features in the regional economic scenario. "Exports grow at an accelerated pace, although they art still concentrated in few products - basically commodities. In general, the main task is to establish a solid link between our relationship with China and Asia-Pacific and the domestic competitiveness, innovation and equality challenges," he stressed.

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