The Dominican Republic, Panama Y Costa Rica offer to U.S legal certainty and incentives to achieve greater investments from the North American country through the coalition they formed called Alliance for Development in Democracy.
To this end, it will be formalized at the fourth meeting, scheduled for March this year in Costa Ricaa business and investment advice with U.Sa country that is invited to attend, but there are still no details about who will go.
In particular, an agreement is being sought that involves the supply chain of the three countries, according to Roberto Álvarez, the Dominican Minister of Foreign Affairs. Álvarez explained that this opens up possibilities in terms of business relocation (nearshoringin English), financial support, collection of inputs, among others.
“The three countries are ready to have a considerable US investment,” said Álvarez in his participation in the virtual conference Outlook on the Americas 2022 of the Association of American Chambers of Commerce in Latin America and the Caribbean (AACCLA, in English) and the Chamber of Commerce from U.S.
The discussion of the location of companies arises again after the impact that the restrictions established by the countries in response to the COVID-19 pandemic had on the supply chain and logistics.
Costa Rica, Dominican Republic Y Panama They want to take advantage of this business opportunity of being suppliers closer to the destination markets, especially with U.S. Álvarez highlighted the strategic geographical location of the three countries that will help reduce delivery times to U.Sas well as the levels of connectivity by sea and air and, above all, the low costs of freight.
That democracy leaves results
Panamanian Foreign Minister Erika Mouynes said that with the Alliance for Development in Democracy it seeks to equate democracy with progress, economic growth and show those results that serve as a model for other countries at a time of change in the region and distrust of democracy.
To demonstrate that democracy supports development and contributes not only to strengthening economic growth, but also to stabilizing it, Mouynes stated that international cooperation is needed.
The official affirmed that the alliance is flexible and does not seek to replace any multilateral mechanism that already exists in the region. “But you have these three strong economies and the unifying link between them, of supporting democracy, the rule of law and the protection of human rights,” she added.
He also said that they are preparing to participate in the Ninth Summit of the Americas in Los Angeles, California, in June 2022, an event whose axis is “Building a sustainable, resilient and equitable future” for the hemisphere.
While the foreign minister of Costa RicaRodolfo Solano, affirmed that the alliance is a response to this call to action, which aspires to better communication and understanding between the three countries and strategic partners such as U.S. It also allows a flexible dialogue space to exchange points of view on a regular basis with a dual purpose: support and initiatives.
“We hope to work with the authorities of the U.S and the private sector, think tanks, and civil society in a strong partnership to address critical challenges in the region,” Solano said.
