The expansion of covid-19 in the world also creates an opportunity for Latin American economies to boost their inter-trade relations and to become the new nucleus of international commercial development.
How to deal with what is coming once the health emergency is over?
Well, with the opportunities that open up to achieve higher levels of regional linkage, which is called the relocation of companies.
Today, more than ever, this issue becomes the great possibility to attract investments that are abroad and that are looking for regional locations or the closest ones, considering that the pandemic broke the supply chains in their original markets. There a great opportunity opens up.
The other possibility is to strengthen multilateral interstrategic businesses, that is, in the Andean Community (CAN), the Pacific Alliance, and to strengthen trade relations that must be established among themselves.
The third is that they can strengthen strategies where these linkages lead to generate local suppliers.
In the Pacific Alliance, how can these opportunities be worked?
The Pacific Alliance has the opportunity to become a global example to defend multilateralism, to defend economic integration, free trade and to foster much deeper alliances of regulatory harmonization and economic interaction, of much stronger linkages.
What the world is currently seeing is that the supply chains in the world, in the large economies, were broken, so that their markets, their companies, their economies can be strengthened so that they are much more integrated.
It is the great opportunity they have to show the world the value of multilateralism and economic integration.
How would it be possible to achieve these levels of integration and development in Latin America?
They can continue working on more articulate strategies. For example, in terms of tourism, they could form shared destinations, where the international tourist can reach a certain place in one country and then go to another in another country. Obviously, all this once the tourist chain recovers.
In addition, the strategy of productive chains can be further strengthened. For example, in industrial sectors.
There is also the possibility of establishing good practices in productive sectors such as agribusiness, manufacturing, financing for small companies, in various entrepreneurship projects, creative economies, in short, the possibilities are many.
Recovery of the Latin American economy for next year.
Latin America may have a very important rebound growth next year. However, this will depend on how it continues to develop its strategy against the pandemic itself and that actions are not generated that again force the closure of productive activity.