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A More Just and More Prosperous Western Hemisphere: The Americas Trade and Investment Act

SpeakerS:

H.E. Santiago Peña, President, Republic of Paraguay
The Hon. Bill Cassidy, M.D., Senator, U.S. Senate (LA)
Andrea Bernal, Anchor, NTN24

“This is not only supporting common values like democracy and freedom, but this is also good economic business.” H.E. Santiago Peña
“Economic development is critical for a democracy to survive. If people are starving, they're going to be susceptible to those who come to them and say that there is a better way, even if that other way is totally false.” The Hon. Bill Cassidy

Key takeaways:

  • The Americas Trade and Investment act’s goals: Address endemic corruption, increase foreign direct investment, boost trade, and foster people-to-people connections for mutual economic and democratic benefits.
  • Regional integration as a priority: Latin America remains the least integrated region in the world, and economic cooperation with the U.S. offers an opportunity to strengthen trade, governance, and regional stability.
  • Paraguay’s unique role: Paraguay serves as a model of democratic progress and economic growth, demonstrating the value of political stability and international partnerships.
  • Combating China’s influence: Strengthening U.S.-Latin America relations can counteract China’s growing economic presence in the region, while promoting shared values of democracy and freedom.
  • Economic development fuels democracy: Prosperity and strong institutions are essential for sustaining democracy, reducing migration pressures, and discouraging authoritarianism.
  • Need for strategic engagement: The U.S. and Latin American countries must focus on proposing mutually beneficial agendas, leveraging economic potential, and promoting peace and democratic values.

 

Action items:

  • Strengthen anti-corruption measures: Implement e-governance systems to reduce corruption and streamline business operations, enhancing trust for foreign investors.
  • Promote regional trade agreements: Develop trade frameworks under the Americas Act that integrate Latin American economies with the U.S., offering access to larger markets and economic benefits.
  • Encourage near-shoring initiatives: Shorten supply chains by moving production closer to U.S. markets, creating jobs in Latin America and reducing dependency on Asia.
  • Expand people-to-people programs: Foster workforce exchange programs, such as training medical personnel, to address mutual needs while strengthening U.S.-Latin America ties.
  • Engage strategically with U.S. congress: Latin American leaders should increase outreach to U.S. policymakers to advocate for their countries and build stronger bilateral relationships.
  • Leverage regional resources: Highlight South America’s strategic strengths, including its young workforce, food production capacity, and infrastructure potential, to attract investment and partnerships.
  • Promote economic and democratic synergy: Link economic development initiatives with the promotion of democracy to ensure prosperity benefits all citizens, reducing inequality and political instability.
  • Increase awareness of Latin America’s potential: Develop campaigns to educate U.S. leaders and investors about the economic opportunities and shared values that the region offers.

 

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