"This is precisely the discussion we are going to have here, in order to agree on what our priority strategies are to ensure that regional economic integration is assigned top priority on the development agenda in Latin America and the Caribbean," said Moreno.
He stressed that in recent years trade-related development aid has totaled over $25 billion, which represents almost 30 percent of total official development aid.
"Our job is therefore to build consensus on for example obtaining capital for larger-scale infrastructure programs," Moreno said.
He also emphasized that private sector competitiveness needs to be promoted, given that businesses are the ones competing.
"The future of Latin America and the Caribbean depends on private sector involvement in shaping a long-term vision in which business competitiveness is at the heart of the development agenda," said Moreno. "It is up to government institutions to create an environment conducive to competitiveness and innovation."
The Aid for Trade initiative was launched to help developing countries, especially the least developed ones, build the productive capacity and infrastructure they need to take advantage of trade liberalization and enhance their participation in the world trading system.
The Lima meeting will bring together finance and trade ministers, senior donor representatives, regional institutions and key private-sector players to discuss trade-related challenges in the region and set priorities for future action.
This is the first of three regional conferences to be held in 2007 under the Aid for Trade initiative. The other two, to be held in late September and October, will focus on Asia and Africa and are being organized by the Asian Development Bank and African Development Bank, respectively.
Aid for Trade refers to trade-related capacity-building to help countries formulate, negotiate and implement trade policy and related agreements; and trade development, including export promotion and trade finance. It also covers support for activities to strengthen trade-related infrastructure and other supply-side capacities and trade-related adjustment programs.
Inter-American Development Bank
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