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OAS Assistant Secretary General Says Creative Thinking Needed to Address Economic and Security Challenges in Central America and the Caribbean

  December 5, 2011

The current economic and security challenges facing Central America and the Caribbean require a "mind-shift among business leaders, the private sector and governments," says OAS Assistant Secretary General Albert Ramdin.

Addressing delegates at the 35th Annual Conference on the Caribbean and Central America in New Orleans on "Economic Growth and the Security Challenge in Central America and the Caribbean," the high-ranking OAS official said Central America and the Caribbean cannot continue "business as usual if they are to generate employment and increase the standard of living for their populations."

According to Assistant Secretary General Ramdin, "While there are substantial opportunities to enhance trade and investment between both sub-regions, certain obstacles, including security, remain." Pointing to the link between insecurity and unemployment, Ramdin called on governments to partner with the private sector to come up with new incentives to foster independence and employment among groups at risk. "In addition, we need to create incentives and opportunities for our youth," said Ramdin, "There are approximately 20 million unemployed youth in both Latin America and the Caribbean who need opportunities."

"Without strong, open and innovative governments and private sectors willing to take risks, to go outside their comfort zones, and invest in research and development, strategic advantages will not be optimally utilized. Just having natural resources and a well-educated population is not enough," said the OAS Assistant Secretary General.

The OAS official also urged both regions to re-examine other barriers to trade and investment, including tax and investment laws, transportation routes and visa restrictions. Combined, Central America and the Caribbean offer a market of more than 60 million people, 21 countries and a combined GDP of $262 billion dollars.

A gallery of photos of the event are available here.

For more information, please visit the OAS Website at www.oas.org.

Reference: E-994/11