ECLAC urges enhanced economic ties between Latin America, Asia-Pacific
23/10/2008 16:02
Latin American and Caribbean governments should redouble efforts to widen
economic and trade cooperation with the Asia-Pacific region, the Economic
Commission for Latin America and the Caribbean (ECLAC) has said.
Cooperation
between the two regions continues expanding thanks to the increase in commercial
exchanges between China and Latin American and Caribbean countries, ECLAC said
in a report yesterday.
Commercial and investment activities have also
recovered following the Asian crisis in 1998, it added.
However, bi-regional
economic links in general remain weak and reflect a lack of diversification in
trade, it said.
According to ECLAC, the Asia-Pacific is still a market
without exploration for Latin America. Demand in the Asia-Pacific countries,
mainly China, offers opportunities never seen before to the region in the
exportation of basic products, manufacturing and services.
ECLAC said that
despite various cooperation programs between the two regions in recent years,
the lack of high-level political dialogue failed to facilitate plans and
programs directed to the strengthening of bi-regional economic, political and
cultural ties.
"There is not enough consciousness about the importance of
commerce and bi-regional investment and there have been few coordinated
strategies between countries or regional groups, which try to strengthen the
commercial ties and expand investment in the Asia-Pacific," it said.
The full
exploitation of the Asian market means that Latin America and the Caribbean have
to reorient their ties with the Asia-Pacific in order to increase exports of
basic products and products with more added value to that market, it
added.
Xinhua
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