January 27, 2023

Congressman Castro Applauds Advancement of Americas Partnership for Economic Prosperity

WASHINGTON – Today, Congressman Joaquin Castro (TX-20) released the following statement regarding the White House announcement of initial participant countries in the Americas Partnership for Economic Prosperity:

“I commend President Biden, Secretary Blinken, and Ambassador Tai for their work to launch the Americas Partnership for Economic Prosperity (APEP). The strong interest in the Partnership—with countries that represent roughly 90% of the Western Hemisphere’s GDP endorsing its goals and principles—underscores how U.S. leadership can forge a coalition to raise standards for labor, the environment, and other key areas to boost our region’s growth and resilience. A thriving region is important not only in its own right, but as a foundation for progress on many of the transnational challenges we must work together to address. I look forward to the successful completion of the APEP talks, and to ongoing consultation between Congress, the administration, and civil society as those discussions continue.”

Background

Summary provided by the White House. For more information, click here.

The Americas Partnership will foster regional competitiveness, resilience, shared prosperity, and inclusive and sustainable investment, while tackling the climate crisis, by seeking high standard agreements in these critical areas: 

  • Regional competitiveness: We will focus on the issues that drive our competitiveness and build the proper foundation for sustainable, dynamic economic growth and greater investment, including customs procedures, trade facilitation, logistics, good regulatory practices, and non-tariff barriers.
  • Resilience: We will leverage our geographic proximity and deep trade ties, and strengthen the sustainability and resilience of our supply chains and grow our small and medium businesses, while protecting our environment and our workers.
  • Shared prosperity: We must ensure that all can benefit from a dynamic economy. We will focus on ways to make the lives of our peoples fairer and more secure, including investments in workforce development, labor standards, and promotion of quality jobs; expanding financial inclusion; and improving public services while addressing corruption, tax evasion, and other drags on our ability to deliver.
  • Inclusive and sustainable investment: To unleash our region’s full potential, we will seek to unlock needed financing, reinvigorating regional economic institutions and working together to bring responsible private investment to the region. 

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