March 2001

SEMINAR: NEW PARTNERSHIP FOR THE 21ST CENTURY: LATIN AMERICA AND THE CARIBBEAN AND ASIA-PACIFIC

IDB ENCOURAGES INTERREGIONAL COOPERATION BETWEEN ASIA-PACIFIC AND LATIN AMERICA AND THE CARIBBEAN

Seminar in Santiago, Chile, on new transpacific alliances

Latin America and the Caribbean and Asia-Pacific countries have excellent opportunities to strengthen their ties by increasing trade and private investments, as well as by cooperation in the areas of scientific research, technological development, education and cultural exchange.

Once taken advantage of, these opportunities could have important multiplier effects, such as sustained economic growth, new employment opportunities, an expanded tax base to support public services and safety net programs, and the transfer of technology and know-how to develop small and medium-sized enterprises.

These opportunities will be the central theme of a seminar on "New Partnerships for the 21^st Century: Latin America and the Caribbean and Asia-Pacific," to be held on Saturday, March 17, at the Mapocho Station Cultural Center in Santiago, Chile. The seminar is organized by the IDB’s Department of Integration and Regional Programs and will be held prior to the Annual Meeting of the Bank’s Board of Governors.

The forum will bring together representatives from government, the private sector, academia, and civil society from diverse regions to discuss the promotion of transpacific ties.

One of the premises of the seminar is that a dialogue that only includes the public sector can not effectively deal with the fundamental issues. Without the participation of the private sector, the potential for commerce, investment, and interregional transactions will remain weak and fragmented.

During the seminar two joint initiatives of the Asian Development Bank and the IDB will be launched under the auspices of the IDB’ Japan Program and its Integration and Regional Programs Department: Transpacific Business Network and the Latin American and Caribbean and Asia-Pacific economics and Business Association.

Transpacific Business Network

The IDB and the ADB will collaborate to plan, organize, and develop the core activities of a Transpacific Business Network, which will support enhanced information exchange, programs, analytical products and teaming initiatives.

The first phase of the program will focus on increasing cross-regional knowledge through expanded access to trade and private sector information about the two regions.

The second phase will center on providing incentives for network building concerning regional markets and opportunities, as well as exchange of experiences and best practices among a critical mass of public and private sectors in Latin America and the Caribbean and the Asia-Pacific.

The third phase will concentrate on leveraging networks to establish strategic alliances and partnerships among private sector and other organizations.

New professional association

The IDB and the ADB will cooperate in establishing a new professional association, the Latin American and Caribbean and Asia-Pacific Economics and Business Association (LAEBA).

Its main objective will be to provide a forum for researchers interested in comparative research and studies of both regions, with the objective of expanding the academic networks and exchanging policy ideas with policymakers and the private sector.

LAEBA will be open to members of the academic and research communities in the fields of economics, finance, public policy and business economics.