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  HOME | Latin America (Click here for more)

Global Trade Irreversible, Ibero-American Network Says

SAN SALVADOR – The opening of global trade is irreversible, despite setbacks such as Britain’s vote to leave the European Union and the election of Donald Trump as president of the United States, the chair of the Ibero-American Network of Trade-Promotion Organizations told EFE.

The network, known as Red Ibero, will pay close attention to Trump’s trade policies, Antonio Carambula said.

During the electoral campaign, Trump vowed to review trade agreements and threatened to impose tariffs on products manufactured by U.S. corporations in other countries.

Carambula, the executive director of the Uruguay XXI agency, expressed the hope that “in general terms and past what’s happening now,” U.S. trade policy “will follow the same course.”

Regarding Brexit, he said the main negative for Latin America is the loss of London as an advocate within the EU for a trade agreement with Mercosur, the bloc comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela.

“Some countries tend to close themselves off, but this (global trade) is irreversible and the world tends toward opening up and seeking complementarity in our countries,” the Uruguayan official said.

Small countries such as Uruguay and El Salvador “better allocate their resources, are more innovative and their products have higher added value,” according to Carambula.

The Chinese government’s pursuit of food security “provides many opportunities for countries such as those of Latin America who have specialized in the production of high quality food,” he said.

Red Ibero was founded in Madrid in June 1999 as an “itinerant conference” dedicated to enhancing relations among member organizations, providing technical analysis, and fostering the exchange of experiences and tools.

 

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