Press Release

Commerce Department Releases Western Hemisphere Competitiveness Report

ATLANTA—The U.S. Commerce Department today released the Competitiveness in the Americas: Promoting Prosperity and Economic Opportunity report a general survey of how the Western Hemisphere can increase competitiveness, raise living standards, create jobs and reduce poverty. The report is intended to encourage an ongoing dialogue beginning at the Americas Competitiveness Forum in Atlanta, Ga. June 11-13, 2007.

“This report shows that while we have achieved many significant reforms and experienced solid economic growth throughout the Americas over the last several years, we must do even more,” said Gutierrez. “The world is growing more competitive every year. We in the Western Hemisphere must match this pace, boost competitiveness so we can grow together. I look forward to discussing these important issues at the America’s Competitiveness Forum so we can develop policies and strategies that will promote greater growth and economic prosperity throughout the region.”

The report highlights four important drivers of competitiveness that will be discussed at the Americas Competitiveness Forum: innovation, small business development, global supply chain strategies, and education and workforce development; these qualities are needed to continue building strategic partnerships and regional economic frameworks to remain globally competitive. Promoting growing economies will help democracy and free enterprise throughout the Western Hemisphere.

The section on economic progress in the 21st century reviews the hemisphere’s economic status; notes key growth trends; and looks at economic freedom, trade, tourism, and foreign direct investment to provide a snapshot of current conditions. Hemispheric growth has been strong recently and positive GDP growth was registered every year since 1990. Nine countries within the hemisphere have registered per capita gains in GDP in excess of 50 percent between 1990 and 2006. Trade is an increasingly significant component of economic growth. Western Hemisphere exports have increased by more than 200 percent over the past 15 years with 23 countries posting gains in excess of 155 percent.

The Americas Competitiveness Forum will provide a venue for government ministers from the Western Hemisphere and leaders from the private sector, academia, and non-governmental organizations to explore cutting edge ideas and best practices in several key areas of competitiveness.

To review the report, Competitiveness in the Americas: Promoting Prosperity and Economic Opportunity, visit http://www.trade.gov. For more information about the forum, please visit http://www.ita.doc.gov/competitiveness/ACF for the agenda, please visit http://trade.gov/competitiveness/acf/acf-agenda.pdf. To see a live web cast, please visit http://www31.nortel.com/webcast.cgi?id=5688.