Action Plan for Growth in the Americas with ABD Working Groups

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The Americas Business Dialogue, facilitated by the Inter-American Development Bank, focuses on fostering a dialogue between business and government leaders in the Americas to address economic growth challenges. The ABD working groups cover key themes like infrastructure efficiency, modernization, and trade practices to enhance integration and growth in the region.

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ACTION ACTION ACTION ACTION FOR FOR GROWTH GROWTH Policy Recommendations and 2018-2021 Action Plan for Growth in the Americas Rodrigo Contreras Integration and Trade Sector Inter-American Development Bank

INTRODUCTION The Americas Business Dialogue (ABD) is a private sector led initiative facilitated by the Inter-American Development Bank (IDB) aimed at fostering a high-level public-private policy dialogue between business and government leaders of the Americas on the region s priorities, challenges, and opportunities for economic growth and development. In its role as facilitator of the ABD, the IDB: Provides technical support to all ABD working groups. To this end, the IDB works to convene government authorities from the Americas to explore potential areas of public-private collaboration and supports the implementation of ABD recommendations Works to facilitate the ABD annual plenary meeting and ABD member participation at high-level ministerial meetings in the Americas Coordinates the CEO Summit of the Americas, with the support from the Summit of the Americas host country, where ABD members present policy recommendations to Heads of State and Government.

ABD WORKING GROUPS FIVE KEY THEMES

TRADING FOR TOMORROW The ABD s goal is to support infrastructure efficiency, modernization, growth and integration as well as increase trade and transparent trade practices in the region. A regional infrastructure hub could serve as a central repository and incubator for potential projects, promoting infrastructure development that is critical to raising per capita GDP to near Organization for Economic Cooperation and Development (OECD) country equivalents. To close the infrastructure gap in LAC the region must the region must invest approximately invest approximately 5% of its GDP, 5% of its GDP, IDB estimates that a 1% reduction in transportation costs in Peru and Chile could facilitate a 4-5% increase in exports from rural regions.16 or an additional US$150 billion per year, The World Trade Organization s Trade Facilitation Agreement may reduce trade costs by almost 17% for low-income countries, and by 12% for high-income countries.17 over the next 20 over the next 20- -30 years. 30 years.18

TRADING FOR TRADING FOR TOMORROW TOMORROW The ABD s goal is to support infrastructure efficiency, modernization, growth and integration as well as increase trade and transparent trade practices in the region. Globally, overall infrastructure investment (public and private) ranged between 4.0% and 8.5% of GDP between 1992 and 2013, while regionally in LAC, the average over the same period was 2.4%. 19 Electronic Single Windows reduce the time and costs associated with the exchange of information, completion of documentation and issuance of permits.20 Each reduction of 1% to the costs of global to the costs of global trade trade translates into an increase in global income of up to US$40 billion. billion.21 1% Coordinated Border Management (CBR), a collection of international best practices to streamline border procedures, is imperative to helping goods move in, out of and around the Hemisphere in an efficient and cost effective manner. US$40 21

TRADING FOR TOMORROW WORKING GROUP RECOMMENDATIONS: TRADE FACILITATION 20 Advance strategically in the implementation of state-of-the-art and interoperable Single Windows. Strengthen the Authorized Economic Operator (AEO) program and implement automated risk management systems to promote a secure logistics chain for the Americas. 21 Implement trade facilitation measures to foster MSME growth through participation in international trade, including streamlining procedures to expedite low-value shipments. 22 23 Facilitate the implementation and increase the use of advance rulings in the region. 24 Provide training to MSMEs to support participation in international trade.