Costa Rica Seeks Economic Boost at Americas Summit

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Costa Rican President Rodrigo Chaves will participate in the Summit of the Partnership for Economic Prosperity in the Americas (APEP) hosted by U.S. President Joe Biden on Friday. The summit aims to strengthen regional economic bonds as a counterbalance to China’s growing clout.

In addition to the U.S. and Costa Rica, the meeting will include leaders from 10 other nations: Chile, Colombia, Dominican Republic, Ecuador, Mexico, Panama, Peru, Uruguay, Canada and Barbados.

At least six other regional presidents are expected to attend alongside Chaves, including Luis Lacalle Pou of Uruguay, Luis Abinader of Dominican Republic, Guillermo Lasso of Ecuador, Gabriel Boric of Chile, Dina Boluarte of Peru, and Gustavo Petro of Colombia.

The summit provides an opportunity for Latin American leaders to air grievances over feeling sidelined commercially by the U.S. in recent years. With China assertively filling the void as the region’s top trade partner, the countries are urging concrete steps toward greater economic integration.

President Biden aims to underscore his administration’s commitment to “deepen economic integration” and foster more inclusive, sustainable growth across the Americas. Irregular migration flows are also slated for discussion.

However, some leaders may redirect focus toward condemning the ongoing Israeli-Palestinian conflict, which has killed thousands. Colombia, Mexico and Chile in particular have condemned Israeli military strikes in Gaza.

For Costa Rica, constructive engagement on economic matters remains the priority. But President Chaves could face pressure to speak out on Gaza as well in a show of Latin American solidarity.

While lofty rhetorical commitments are expected, the countries also want tangible outcomes from the summit. At a forum on Thursday, leaders pushed for specific investment projects and supply chain cooperation.

Treasury Secretary Janet Yellen called for greater coordination among “friend shoring partners” to diversify supply chains away from reliance on China. Her sentiments align with the summit’s aims.

As a small, trade-dependent nation, Costa Rica has much at stake from the summit’s success. Increased U.S. economic engagement would provide balance against growing Chinese investment across sectors like infrastructure, technology and energy.

With deft diplomacy, President Chaves can help guide the region toward shared prosperity. But the varied national agendas mean negotiations will prove complex. Still, renewed cooperation would yield significant benefits for Costa Rica and the Americas.

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Source link : https://ticotimes.net/2023/11/03/costa-rica-seeks-economic-boost-at-americas-summit Author : Publish date : 2023-11-03 03:00:00 Copyright for syndicated content belongs to the linked Source .