Driving inclusive growth for small and medium-sized businesses is important for the economies of the Americas. From respecting democratic values to creating sustainable tourism, the Western Hemisphere can work together to achieve this shared goal.
Chile President Gabriel Boric spoke at The U.S. Chamber of Commerce and the U.S. Department of State’s 2022 IV CEO Summit of the Americas about how countries in the Americas can achieve inclusive growth through four key areas.
Respect for Democratic Values Is Vital to Inclusive Growth
According to President Boric, Chile is committed to maintaining and supporting Democratic values.
“Democratic countries have shared values: respect to institutions, separation of powers, freedom of the press, respect to rules, the Rule of Law, [and] respect to international agreements and treaties,” he explained.
In contrast, he noted, authoritarian regimes are unpredictable and offer unforeseeable outcomes, so shared democratic values are vital to inclusive growth.
Developing Natural Resources for Sustainable Tourism
President Boric believes Chile has a duty to modernize its natural resources in a sustainable manner to promote tourism.
“I have seen, through our country, the marvels of nature that we have to offer the world, and we need to take care of them,” explained President Boric. “We have a territory with vast natural resources, copper, wind, sun … [and] great extensions of agricultural land and long shores.”
Chile still has environmental issues, however: “We're facing tremendous drought [of] 13 years,” said President Boric.
He noted that the way to address environmental struggles is through international cooperation.
”Yesterday we had a very interesting meeting with the mayor of Los Angeles," Boric said. "We exchanged knowledge and our delegation learned a lot about how to recycle, how to treat water, and talked about the drought that affects California and Chile.”
Establishing Credible Institutions Will Build a Solid and Stable Foundation
Chile went through a period of political unrest in 2019 due to perceived social and economic inequality, and it can be difficult to attract international investment when a country is politically and socially unstable.
“To build a country that is solid and stable, you do it step-by-step progressively,” said President Boric.
According to President Boric, the first step of stabilizing the country is having “rules of the game that are transparent and lasting … [and] having an environment that is safe to foster dynamics that help our markets … where no one is left behind.”
Fiscal Responsibility Must Be a Top Priority for the Americas
According to President Boric, countries in the Americas must “embrace fiscal responsibility.”
“It is the only way to do things correctly,” he said. “[Fiscal responsibility] is a guarantee to be able to sustainably advance in time so that the quality of life of our people can improve.”
Overall, President Boric is incredibly hopeful for the future of Chile.
“I want you to know that we're going to be up to the circumstances and we will act in a responsible and committed manner in order to hopefully be an example in the region that we can grow,” he said. “The world today needs Chile, and Chile needs the world.”
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