1680730000 Latin America is banking on a united front against inflation

Latin America is banking on a united front against inflation

Latin America is banking on a united front against inflation

The family photo this time was a screenshot. Andrés Manuel López Obrador held a video call with his colleagues in the region this Wednesday to promote an anti-inflation plan designed to help stem the rise in basic food prices. Measures include reducing tariffs between countries and encouraging exchanges of essential products to support the most vulnerable populations. “We have met, at Mexico’s initiative, to find common solutions to address price pressures and shortages in the region, as well as to strengthen regional integration and trade,” said the statement from the president of the recently formed alliance of countries America’s and Latin America’s Caribbean against inflation.

The event was attended by Alberto Fernández from Argentina; Miguel Diaz Canel from Cuba; Gabriel Boric from Chile; Xiomara Castro from Honduras, Luis Arce, President of Bolivia and Juan Antonio Briceño from Belize. Among the attending ministers, the Vice President of Venezuela Delcy Rodríguez and Germán Umaña, Minister of Trade and Industry of Colombia stand out. Notably absent was Luis Inácio Lula da Silva, President of Brazil, who sent a representative. Saint Vincent and the Grenadines is also part of the agreement as President of the Community of Latin American and Caribbean States (CELAC).

The trade agreement between countries aims to provide trade, logistic and financial facilities between countries. To this end, she proposes speeding up imports and exports via ports and borders. Among other measures, it aims to harmonize regulations and phytosanitary and phytosanitary certification of products. The aim is to promote trade between countries to combat shortages and reduce the prices of important goods. In their joint declaration, the countries invited other states to join the initiative. “We agree to extend the invitation to other countries in the region to join this initiative to contribute to the overall well-being of Latin America and the Caribbean,” the statement said.

Initially, the agreement was viewed as a political nod to other countries with left-leaning governments in the region, by the invited countries, and by Mexico’s commitment in mechanisms such as CELAC and the Pacific Alliance. However, government sources in Mexico indicate that the deal is essentially economic. For example, according to this version, Mexico would be interested in importing beef from Argentina and chicken from Brazil. However, the initially unforeseen inclusion of countries like Cuba and Venezuela in this alliance against inflation marks the political character that also exists within this alliance.

Foreign Minister Marcelo Ebrard celebrated the rapprochement between the countries and announced that the first results of the agreement will be presented at an upcoming meeting on May 6-7 in Cancun. This meeting will be attended by entrepreneurs, agricultural and farming organizations and authorities from the 11 countries.

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