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The OECD & Trade in Latin America

TRADE ENVIRONMENT IN LATIN AMERICA AND ROLE OF OECD

This research paper discusses recent changes in the level, composition and orientation of the trade of the nations of Latin America (Central and South America, excluding the Caribbean area) and the special role being played recently by the Organisation for Economic Co-operation and Development (OECD) in facilitating that trade expansion. With a number of exceptions, the international, including intra-regional, trade of the principal Latin American nations has expanded during the past decade, reflecting changes in the global economy and the revitalization through structural reform of domestic economies in a number of countries. International financial assistance and private capital flows, primarily direct foreign private investment (FDI), from the developed world have played an important role in improving the trading and balance of payments positions of the major Latin American countries. OECD has become more involved with Latin America because of rising levels of Western European trade, lending and investment there and the common interest of all the members of OECD in leveling the playing field for FDI in Latin America and removing barriers to further expansion of international trade and development involving that region.

Traditional International Trade Environment

During most of the late 19th and 20th centuries, all of the Latin American nations served as a source of raw materials, mineral resources and agricultural exports to, and as a market for, imports of capital, intermediate goods and finished products from the developed world. According to Secchi, "European countries have long been involved in the financing of Latin American development," primarily for the construction of South American transportation and power infrastructures in the late 19th and early 20th centuries. However, for most of this century, American private traders and investors in Latin American ow...

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The OECD & Trade in Latin America. (1969, December 31). In LotsofEssays.com. Retrieved 05:02, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1704629.html