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SELA and OECD renew agreement to promote sustainable economic development in the region

The Latin American and Caribbean Economic System (SELA) and the Organisation for Economic Co-operation and Development (OECD) renewed the Cooperation Agreement to deepen and advance in a work programme aimed at promoting sustainable and inclusive economic growth in Latin America and the Caribbean. 

This agreement for technical and institutional cooperation will allow both organisations to make progress in the development of projects of mutual interest but with an impact on the region's economic recovery efforts, through the organisation of meetings, seminars, workshops, training sessions on topics of mutual interest; collaboration in joint studies, projects and research; as well as collaboration in policy reviews and economic studies specific to each country. 

It should be noted that both organisations, together with CAF-development bank of Latin America, are carrying out the implementation of the second edition of the SME Policy Index for Latin America, in which ten countries of the region are participating: the Pacific Alliance member countries, Argentina, Bolivia, Brazil, Ecuador, Paraguay and Uruguay. 

This three-party cooperation led to the publication of the report: Policies for Competitive SMEs in the Pacific Alliance and the participating South American countries, which was published in 2019 and compiles the results and recommendations derived from the first edition of the SME Policy Index for Latin America and the Caribbean. 

The SME Policy Index is an OECD benchmarking tool that has assisted emerging economies in various regions of the world over the last decade in monitoring and evaluating progress in policies that support micro, small and medium-sized enterprises. Its adaptation to Latin America and the Caribbean is an initiative of SELA, whose results so far have allowed policymakers to encourage the exchange of experiences and contribute elements for the recovery of this business sector. With the signing of this framework agreement, it will be possible to further consolidate and expand the institutional synergy between SELA and OECD with a view to the sustainable development of the region.