Ito Bisonó highlights Latin America’s potential to lead regional growth
The Minister of Industry, Commerce and MSMEs, Víctor “Ito” Bisonó, made a strategic call for Latin American and Caribbean nations to leverage their natural resources, innovation, and human capital to reduce dependence on external markets. During his participation in the 41st session of the Economic Commission for Latin America and the Caribbean (ECLAC), the official underscored the need to boost trade exchange among the countries of the region.
Bisonó emphasized that, currently, internal trade in the region barely reaches 14%, which represents a missed growth opportunity.
The region only has 14% trade. Imagine, we have 86% potential growth so we are not so dependent on other hemispheres.
Víctor “Ito” Bisonó
Dominican Republic as a model of stability
During the forum held in Santiago, the minister highlighted the role of the Dominican Republic as a benchmark for development in the Caribbean. He assured that the economic, political, and social stability exhibited by the country has been key to its constant growth in recent decades, positioning it as an example to follow in regional integration.
The official pointed out that the region possesses unique competitive advantages over developed powers, especially in Europe, where population aging is putting pressure on production systems. In contrast, Latin America has a young population and an abundance of natural resources that, if well managed, could transform the global economic landscape.
Towards a new era of cooperation and innovation
Bisonó pointed out that integration should not be limited to traditional trade, but rather evolve towards high value-added sectors. Among his proposals to strengthen ties, he highlighted:
- The implementation and development of Artificial Intelligence.
- The promotion of cross-investments between Latin American countries.
- The transfer of technology and knowledge.
- The modernization and empowerment of the agricultural sector.
In addition, the minister highlighted the region’s favorable geopolitical environment, emphasizing the absence of high-intensity armed conflicts and nuclear weapons as a determining factor for attracting foreign investment. According to Bisonó, these conditions make Latin America a safe and strategic destination for global capital, provided that countries manage to consolidate more robust and effective cooperation mechanisms.
