Economic recovery, digitalization and social development, the three thematic areas of SELA

Economic recovery, digitalization and social development are the major thematic areas of the draft multiannual agenda of the Latin American and Caribbean Economic System (SELA), prepared in tandem with Member States and to be submitted for their approval at the XLVII Latin American Council in Caracas on 30 November 2021.

Earlier, on 29 November 2021, a preparatory meeting will be held, following consultation with Member States and the work team of SELA in regard of the identification of urgent topics for the region.

Ambassador Clarems Endara, the Permanent Secretary of SELA, reported that Member States took sides on the issue of economy precisely because of the regional indicators. “There are approximately 30 million new poor people in the region and almost 13 million SMEs shut down during the pandemic,” he said.

Leverage economic growth by strengthening regional integration and favouring public policies on trade facilitation and SMEs promotion is among the primary objectives in the thematic area of economic recovery included in the project of this inter-government organization.

SELA pursues increasing and better integration through a common regional agenda for economic policy making contributing to the economic growth of Latin America and the Caribbean.

“SELA has been conceived as a mechanism of dialogue and furtherance of integration. It is set to look for common strategies among countries, regionalize specific agendas, delve into integration,” the Permanent Secretary said.

The region is going through a huge economic crisis, “the countries have come to terms on the need of economic recovery,” Ambassador Endara added.

As regards digitalization, SELA is aware of the multiple benefits of the use of digital technologies. They favour competitiveness, democratize access to information and strengthen the capabilities of the public sector, ultimately conducive to a larger economic growth, higher stages of wellbeing and better opportunities for all.

Particularly in Latin America and the Caribbean, the gaps are certainly visible. Around 32% of the population lacks internet access, connectivity speed is insufficient in 67% of schools, and 50% of LAC countries are deprived of a cutting-edge digitalization agenda.

In its draft work programme, SELA plans to turn digitalization into a vehicle for better economic and social results for the LAC countries. For such purpose, the organization deems it necessary to boost digital inclusiveness, foster regional connectivity and rise the country productivity and competitiveness levels.

In the social context, SELA seeks better development indicators in Latin America and the Caribbean in a sustainable and resilient way, through cooperation initiatives, training, agreements and exchange of the best practices.

The draft programme of SELA relies on a process of consultation with Member States, with the organization as the executive arm of major regional policies.