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Latin America 'Unfortunately' Has a Very Low Participation in Global Trade

Posted December 05, 2014

Under Economic Issues, International Trade Issues

(MercoPress)

Latin America 'unfortunately' has a very low participation in world trade which is a major challenge for the region, according to Gonzalo Rodriguez, member of Mercosur technical staff, who was one of several speakers at the preamble of Unasur summit.

World trade in 1950 was equivalent to 8% of global GDP and that percentage climbed to 15% last year “which means that increasingly local production is traded internationally, and that is globalization and world output integration”, argued Gonzalez.

However, “Latam is quite distant from those percentages and convergence becomes crucial for further development” indicated the Mercosur trade expert at the Guayaquil meeting, during a forum on trade, investment and production. Read more here.