• FOOD INDUSTRY

Hundreds of entrepreneurs participated in LAC FLAVORS

Cassava, chia, salsa, quinoa, chile habanero and fruit were some of the star products at the sixth edition of LAC FLAVORS, the food industry expo organized by the Inter-American Development Bank (IDB) together with ConnectAmericas.com, ProMéxico, the Government of the State of Yucatán, the Mexican Department of Agriculture, Livestock, Rural Development, Fishing and Food (“SAGARPA” from the Spanish acronym), and the Trusts Established for Agriculture (“FIRA” from the Spanish acronym). Hundreds of small and medium businesses (SMEs) from Latin America and the Caribbean gathered in Merida, Mexico, where they also attended business roundtables with buyers from North America, Asia and Europe.

In Peru, the products reporting the largest sales abroad so far this year are quinoa, cacao beans, fresh grapes, fresh avocados and fresh mangos. The data appears in a report by the Office of Economic and Statistical Studies of Peru’s Ministry of Agriculture and Irrigation.

In news on beef, Paraguay hosted a Mission from the International Finance Corporation of the World Bank to support exports of certified meat. Additionally, Russia has become the second largest consumer of pork exports from Brazil, absorbing 39.6% of market share, according to the Brazilian Animal Protein Association (“ABPA” from the Portuguese acronym).

Colombia, looking to increase its fish farming, fishing and aquaculture trade with South Korea, prepared an agenda of promotional events for close to 30 employees and representatives of food buyers from this Asian nation, who will visit Colombia.

The 2014 World Food Prize was awarded to naturalized Mexican citizen Sanjaya Rajaram. The specialist has studied ways to produce more food by developing high-yield varieties of wheat that are resistant to plagues.

• GLOBAL SERVICES

Don’t miss these events and conferences

The most important outsourcing and offshoring event will be held from November 11 to 13: Outsource 2LAC, which this year will be hosted by Guatemala City. The Integration and Trade Sector of the Inter-American Development Bank (IDB), ConnectAmericas.com, the Ministry of Economy of Guatemala, the investment promotion agency Invest in Guatemala, the Guatemalan Exporters’ Association (AGEXPORT) and the International Association of Outsourcing Professionals (IAOP) invite you to sign up here.

In December, the IDB, in collaboration with the University of Guadalajara, Mexico, will also be organizing the First Science and Technology Hackathon, aimed at specialized journalism. At the same time, the International Telecommunications Union (ITU) Conference is underway, and will last until November 7 in Seoul, South Korea. Additionally, for 2015, Chile has committed to organizing the Regional Conference on Open Data in Latin America and the Caribbean ("ConDatos"), according to an announcement by the Deputy Secretary General of the Presidency, Patricia Silva.

With the goal of improving Internet connectivity in the region, Google is preparing an investment of 400 million dollars in the construction of a submarine fiber optic cable that will connect the United States and Latin America. Initiatives like this will benefit, for example, the boom in Argentinean entrepreneurs, who do business with a technology base.

• INFRASTRUCTURE

The importance of regional investment

The Economic Commission for Latin America and the Caribbean (ECLAC) estimates that, per year, countries in Latin America and the Caribbean should invest 6.2 percent of their gross domestic product (GDP) - around US$320 billion dollars - to meet the region’s infrastructure demands from 2012 to 2020.

Brazil is cementing its place as the preferred destination for Chilean investors abroad. According to data from the General Directorate of International Economic Relations (Direcon), this South American country represents 26.8% of Chileans’ direct investment stock outside Chile in 2013. Similarly, Mexico is the chief foreign investor in Ecuador, with an expenditure of US$5.4 billion over the last 10 years, according to data from Ecuador’s Export and Investment Promotion Agency, ProEcuador.

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