Regional Integration and Cooperation Agreement

(Caracas, July 14, 2006).- The executive president of CAF, Enrique García, and José Luis Machinea, executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), signed today an agreement in Caracas whereby both institutions pledge to join forces with the aim of creating better conditions of growth and international competitiveness, through the analysis of internationalization best practices.

After the signing of the agreement, Enrique García said that the instrument further joint efforts of the two international organizations, which started almost 20 years ago, with the aim of helping reinforce integration and cooperation goals in Latin America and the Caribbean.

It should be noted that this cooperation will focus on research and technical assistance to countries in the areas of growth and productive development; competitiveness and technology innovation; strategies to tap into international markets and best practice analysis; trade negotiations; trade agreement management; economic and trade institutions for internationalization; export promotion; economic integration, including trade facilitation, infrastructure, energy and tourism.

Lastly, the joint work will be developed mainly through shared information, consultations, forums, exchange of experts, research and joint publications, among other value-added activities for sustainable development of the region.