Lima.- The Dominican Foreign Minister, Roberto Álvarez, stated this Wednesday that, given the current international geopolitical context, the first imperative is to reaffirm that Latin America and the Caribbean It is a region with a “deep-rooted tradition of peace”, which is “fundamental” to achieving both social and economic development.
That was one of the actions that Álvarez proposed to “transform” the regional international architecture and “bring it into line” with the reality of the current challenges facing Latin America and the Caribbean, during his speech at the fortieth session of the Commission. Economic Policy for Latin America and the Caribbean (ECLAC).
The senior Dominican official also proposed ensuring long-term financing for development under more favorable conditions, allowing the issues on the global agenda to be adequately addressed since, without sufficient and accessible funds, with manageable interest rates, it would be impossible to achieve the Goals. Sustainable Development (SDG).
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«We are not talking about official development cooperation, but rather about conditions that allow access to liquid funds for development projects, without compromising the financial sustainability of the State. Both financiers and multilateral financial organizations must reorient their approach in a way that allows them to accelerate the achievement of the SDGs,” highlighted Álvarez.
The Dominican Foreign Minister also highlighted that regional trade integration is an effective tool to achieve the SDGs.
“Latin America and the Caribbean have abundant natural and mineral resources that, unfortunately, are underutilized,” he said.
In his opinion, the lack of interconnection in the region itself prevents Latin American and Caribbean trade from benefiting from greater regional added value.
«We do not take advantage of the ability to properly chain the various blocks. Our value chains have a very low contribution of inputs from the entire region. It is urgent to promote a more integrated and effective trade bloc that encompasses the entire region,” he pointed out.
At the end of his speech, Álvarez proposed the Dominican Republic as the venue for the 41st period of sessions of ECLAC to be held in 2026. His Peruvian counterpart, Elmer Schialer, stated that this proposal will be appropriately evaluated.
