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LOCAL Saturday 3 december 2016

Alicia Bárcena Calls on India, Latin America and the

Caribbean to Strengthen Economic and Trade Ties

-In Guadalajara, ECLAC seventh edition of the In- America and the Carib-
presented a study on trade dia-LAC Conclave, which bean are complementary
opportunities and chal- was held in the Mexican in some ways in terms of
lenges for reducing in- city of Guadalajara. the provision of business
equality in both popula- The combined population and remote knowledge
tions. of India and the region to- services, manufactured
tals nearly 2 billion inhabit- and chemical products,
GUADALAJARA - The Eco- ants. Historically, both have renewable energy, the au-
nomic Commission for Latin had average growth rates tomotive and aerospace
America and the Carib- above those of developed industries, and in strategic
bean (ECLAC), through countries (7% for India and alliances in manufacturing.
its Executive Secretary, 3% for Latin America and India’s dynamism in the ex-
Alicia Bárcena, called on the Caribbean) and this port sector is reflected in
countries in the region to creates interesting oppor- the fact that since the lib-
enhance the common tunities for investors. How- eralization began in 1991,
ground and opportunities ever, neither side should the country has multiplied
that they have with India lose sight of the challenge its exports of goods and
on matters of trade, foreign of reducing the inequalities services by more than six
investment and coopera- faced by their societies, times and expanded ser-
tion. the United Nations official ECLAC Executive Secretary Alicia Bárcena. vices by more than nine
“According to figures from said in a video message (ECLAC Photo) times.
the last few years, the eco- delivered in the meeting. Hugo Beteta, explained digence. In India the pov- As a recipient of Foreign
nomic ties between India Upon presenting the study that India and the region erty figure has fallen signifi- Direct Investment (FDI), in
and the region have in- ‘Strengthening the rela- face major challenges in cantly in recent years, al- 2015 India became the
creased each year; nota- tionship between India the social arena. In Latin though according to 2011 ninth-largest global recipi-
bly, there was 140% growth and Latin America and America 28.2% of the pop- statistics, 59.2% lived on less ent with a total of $44.208
in trade between 2009 and the Caribbean,’ the Direc- ulation (168 million people) than $2 dollars a day. billion dollars, while Latin
2014,” she explained dur- tor of ECLAC’s Subregional was living in poverty in 2014 Beteta added that the America received around
ing the inauguration of the Headquarters in Mexico, and 11.8% (70 million) in in- markets of India and Latin $177 billion dollars. q