Latin America needs a renewed focus on integration

Regional integration is an old story in Latin America and the Caribbean. Since independence, but especially since the 1960s, the region has sought to join itself together in various ways, with varying degrees of success, resulting in a veritable alphabet soup of past and current regional integration bodies. Despite these efforts, and some successes, inter-regional trade remains stuck at around 20 percent, compared to around 50 percent seen in East Asia. Still, the topic deserves renewed attention according to Samuel Pienknagura, one of the authors of the World Bank report “Better Neighbors: Toward a Renewal of Economic Integration in Latin America.” Pienknagura emphasized to Latin Trade that regional integration offers the best way forward for the region to reactivate and […]