On January 27, 2023, U.S. Secretary of State Antony Blinken and U.S. Trade Representative Katherine Tai hosted the initial ministerial for the Americas Partnership for Economic Prosperity (APEP), a regional framework for cooperation to promote inclusive economic growth and strengthen competitiveness. The APEP consists of the United States, Barbados, Canada, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Mexico, Panama, Peru, and Uruguay. The APEP is intended to be a flexible framework and will be open to additional countries that share the values of economic cooperation and a vision for a prosperous Western Hemisphere. 

Ambassador Tai in her opening remarks stated: “This will be a historic agreement with one of the most dynamic economic regions in the world. The Western Hemisphere accounts for almost 32% of global GDP, and the United States’ ties with the region are broad and deep.” She added, “We have some of our most longstanding trade agreements in the region, like our agreements with Chile, Colombia and Peru. We also have some of our newest, like the renegotiated USMCA and the Protocol on Trade Rules and Transparency with Ecuador. [The United States is] committed to working with our partners to fully implement these existing agreements. But at the same time, we recognize that we need new tools to address new problems that will shape the coming decades – to better integrate our economies, reinforce our regional ties, and ensure that the benefits of trade are shared by all our citizens.”

The APEP will seek high-standard agreements in the following areas:  

  • Regional competitiveness: Focusing on issues that drive 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: Leveraging the countries’ geographic proximity and deep trade ties, strengthening the sustainability and resilience of supply chains and growing small and medium businesses, while protecting the environment and workers.
  • Shared prosperity: Ensuring that all can benefit from a dynamic economy by focusing on ways to make the lives of people fairer and more secure, including investments in workforce development, labor standards, and quality jobs; expanding financial inclusion; and improving public services while addressing corruption and tax evasion.
  • Inclusive and sustainable investment: Unleashing the region’s full potential, seeking to unlock needed financing, reinvigorating regional economic institutions and working together to bring responsible private investment to the region.

The full text of the Joint Declaration on The Americas Partnership for Economic Prosperity is available here.

Photo of Scott E. Diamond** Scott E. Diamond**

Scott is a senior policy advisor with more than 25 years’ experience with the legislative and regulatory processes involved in international trade policy, remedies and enforcement. This includes working with clients on matters involving export controls, economic sanctions, human rights and forced labor…

Scott is a senior policy advisor with more than 25 years’ experience with the legislative and regulatory processes involved in international trade policy, remedies and enforcement. This includes working with clients on matters involving export controls, economic sanctions, human rights and forced labor compliance, corporate anti-boycott and antibribery compliance, national security investigations, and foreign direct investment in the United States.

**Not licensed to practice law.

Photo of David M. Schwartz David M. Schwartz

David is the leader of Thompson Hine’s International Trade practice group and a member of the firm’s International Committee. He advises clients on the risks and opportunities presented by U.S. international trade laws and regulations and international trade agreements. He focuses on antidumping…

David is the leader of Thompson Hine’s International Trade practice group and a member of the firm’s International Committee. He advises clients on the risks and opportunities presented by U.S. international trade laws and regulations and international trade agreements. He focuses on antidumping (AD), countervailing duty (CVD) and safeguard litigation, international trade policy, and cross-border compliance issues affecting goods, services, technology and investments that involve transportation, customs, export controls, economic sanctions, anti-boycott and anti-bribery laws and regulations.

Photo of Samir D. Varma Samir D. Varma

Samir advises multinational corporations on export controls, economic sanctions and customs, and counsels individuals and corporations on the Foreign Corrupt Practices Act (FCPA) and other anti-corruption laws. He represents clients in enforcement actions before U.S. regulatory agencies and conducts corporate internal investigations.

Photo of Francesca M.S. Guerrero Francesca M.S. Guerrero

Francesca counsels clients on compliance with export controls, sanctions, import regulations, human rights and forced labor, and the FCPA and antibribery laws. She works closely with companies to develop tailored compliance programs that fit their specific needs, and routinely advises clients on some…

Francesca counsels clients on compliance with export controls, sanctions, import regulations, human rights and forced labor, and the FCPA and antibribery laws. She works closely with companies to develop tailored compliance programs that fit their specific needs, and routinely advises clients on some of their most challenging international transactions, involving dealings in high-risk jurisdictions or with high-risk counterparties. Francesca also counsels companies through all phases of internal investigations of potential trade and antibribery violations and represents companies across industries before related government agencies.