Transportation infrastructure is key for regional development

The IDeAL 2012 document points out that increasing demand and the need to compete in a world that has become more and more integrated, has forced governments in Latin  America and the private sector to make efforts to expand the coverage  and quality  of their transportation systems. At the same time, the region continues to observe high urbanization rates and an increasing demand from its inhabitants and companies for better quality transportation. 

This requirement does not only offer an opportunity to improve the quality of life of Latin American citizens, but also attracts investments from governments and other parts of the world to the region. 

Under these circumstances, the transportation infrastructure  was one of the areas addressed by the presidents in the Summit of the Americas  which took place in Cartagena de Indias, in 2012. During the meeting, the regional chiefs of State agreed on a first mandate called "the commitment to integrate the physical infrastructure of the Americas", in which seven aspects were developed, of which the first four are directly related to the transportation system:

• The recognition that physical infrastructure is a component that contributes to sustainable development, social inclusion, and increase of trade.
• Learning from the experiences of other countries contributes to the development of synergies in the physical infrastructure national agendas. 
• The need to examine financing mechanisms that enable a greater participation of agencies of different levels in the promotion of regional physical integration projects.

The importance of having compatible and harmonious institutional norms to facilitate investment in regional infrastructure