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September 18, 2007
AACCLA Survey Finds Stalling Trade Liberalization Biggest Threat to Latin American Economy
WASHINGTON, D.C.-The Association of American Chambers of Commerce in Latin America (AACCLA), an affiliate of the U.S. Chamber of Commerce, today released a report that finds stalling trade agreements pose the biggest threat to economic growth in Latin America.
"Seizing the opportunities of growth through expanded trade is a top priority in Latin America and the Caribbean today," said John Murphy, executive vice president of AACCLA. "There is a clear recognition by our neighbors that opening markets not only makes economic sense, but political sense as well."
To conduct the survey, AACCLA reached out to the broad membership of its 23 member AmChams, which represent over 80% of U.S. investment in Latin America and the Caribbean. More than 500 respondents from 22 countries participated in the survey, which will help steer AACCLA policy objectives for 2008. Some of the key findings include:
- Nearly one-third of respondents report that political stalling of trade liberalization (32%) and the spread of populism and anti-Americanism (31%) are seen as the biggest threats continued economic growth in the Americas over the next four years.
- Respondents said the two biggest obstacles to higher profitability in their companies are inadequate infrastructure (19%) and high taxes (17%).
- More than 90% of respondents say that any potential democratic setbacks in their country would have a negative or very impact on their business.
- When thinking about the future of the Latin American and Caribbean region, 51% are optimistic of the next four years. Only 12% are pessimistic.
For nearly a century, the American Chambers of Commerce (AmChams) have been the most influential voice of U.S. business in Latin America and the Caribbean. Today, AACCLA and its 23 member AmChams represent more than 20,000 companies and over 80% of U.S. investment in the region. Acting in partnership with the U.S. Chamber of Commerce - the world's largest business federation - AACCLA has become the premier advocate for U.S. business in the Americas. Visit www.aaccla.org/ for more information.
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