![Facilitating cooperation between South America and the Arab countries Facilitating cooperation between South America and the Arab countries](/media/29177/intervencion-presidente.jpg)
Facilitating cooperation between South America and the Arab countries
García told the participants that the Quito summit would stimulate relations between South America and the Arab countries and create opportunities to construct new sources of financing to combat poverty, channel possibilities of investment in energy and services infrastructure in South American countries, promote tourism between the regions, stimulate the creation of joint ventures and promote trade. He emphasized the importance of financial institutions such as the Latin American Reserve Fund (FLAR) and CAF, which could be used as vehicles to strengthen relations with Arab countries.
García added that "Latin America faces great challenges such as improving wealth distribution, making real headway in reducing poverty, and preventing a cyclical growth rate." He insisted on the need to diversify exports, increase savings and investment, improve competitiveness, strengthen institutions, and achieve sustained quality growth, in an effort to promote equity and combat poverty.CAF as strategic partner
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