As the region’s trading partners collaborate to enhance opportunities and promote development, President Joe Biden’s economic plan for Latin America is gaining momentum. Although the initiative faced delays last year due to a presidential summit that was postponed multiple times, high-level meetings are now taking place.
The virtual meeting held recently by trade ministers representing the 12 nations in the Americas Partnership for Economic Prosperity, including US Trade Representative Katherine Tai, followed a presidential summit in November where the initiative was launched. The gathering aims to address poverty, migration pressures, and Chinese influence in the region.
Ministers are now planning to meet in person in Ecuador this summer as they work towards implementing the plan and achieving its goals. The initiative is expected to have a significant impact on the economic growth of Latin America and improve living standards for millions of people in the region.
