OAS chief calls for more public/private partnerships in region
KINGSTON, Jamaica — The Assistant Secretary General of the Organisation of American States (OAS), Albert Ramdin, today called for a new, more inclusive kind of governance in Latin America and the Caribbean.
Ramdin’s position hinges on “better relationships between those who make policies and the private sector” to overcome challenges that, he said, could impede continued economic growth and a growing influence in the global economy.
Speaking to business executives from throughout the Americas at the annual meeting of the Association of American Chambers of Commerce in Latin America and the Caribbean (AACCLA), Ramdin highlighted that “low investment in human capital and infrastructure, and inequalities” continue to be key challenges to accelerating inclusive growth in Latin America and the Caribbean.
“We urgently need to create a culture of healthy public-private collaboration, where public and private sector leaders work together to tackle these impediments to growth and poverty reduction,” he said.
Ambassador Ramdin highlighted that the region has a serious deficit in the area of innovation and education, and added that with prospects of slower growth rates, the region needs to improve productivity, infrastructure, and transport. In addition, he said, logistics accounts for an additional 18% to 35% of product value compared to just 8% in the OECD countries. “When you also add the costs associated with the current insecurity trend, businesses from the region are disadvantaged and less competitive compared to those in other parts of the world,” said Ramdin.