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The Latin America and the diversification of its economy

Marcelo Rech

Latin America has been giving concrete steps with the purpose of diversifying its economy, especially in what concerns the highest competitiveness of its products and the strengthening of new markets and partners.

If, in the regional plan, the convergence between blocs like the Pacific Alliance, SICA, Caricom and Mercosur gives its first steps – by the point of view of the reduction of dependence –, the deepening of the commercial relations and of cooperation with Russia, for example, is consolidated as a plausible alternative.

Despite the crisis that affects the country, Russia has proven to be a reliable partner of Latin America. The expansion of these relations testify this tendency.

The Russian economy, active, develops commercial and economic relations not only within the eurasian region, going far beyond its geographical and geopolitical boundaries.

In the history of the commercial and economic relations of the Latin-American countries with their traditional partners, oscillations and insecurity are registered. It is not a secret that the relations with the United States are marked strongly by a political bias that can be confused with manipulation to the detriment of the interests of the Latin-Americans.

An example would be in the sanctions imposed by Washington to Russia on account of the Ukrainian crisis. Which is nonsense when the United States recognize that the policy of sanctions does not solve the political problems, see the example of Cuba and the steps gave in this moment for the normalization of the bilateral relations.

Historically, Russia, and even the ex-Soviet Union, implemented a commercial policy of approximation through the generation of confidence. More and more countries look to deepen these relations believing in the potential to be explored.

The Latin-American countries also are watching the impact that the sanctions imposed by the United States, European Union, Australia, Canada and Norway will have for the warming-up of the regional exterior trade.

It is the same old history: any crisis also generates opportunities.

Russia sees itself affected by the restrictions to the import of meats, milk, fruits and vegetables in a decision that must last at least one year. And the Latin America can benefit a lot from this situation. The Russian market is not any market.

While the nominated countries deny mainly the export of agricultural products, the Latin-American ones will be able to profit hugely. The growing markets of Latin America also yearn for new alternatives that consolidate the good regional economic moment.

The commercial relations with Russia, deepened because of the sanctions imposed to it, certainly will strengthen the cooperation and the integration in the context of interstate structures like the BRICS.

Maybe Latin America has realized that it can survive better without the dependence on the United States and on mechanisms like the International Monetary Fund (IMF).

Marcelo Rech is a journalist, specialist in International Relations; Strategies and Policies of Defense; Terrorism and Counterinsurgency; Human Rights in the Armed Conflicts; and director of the Instituto InfoRel de Relações Internacionais e Defesa. E-mail:

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