ALI Hosts Discussion on Encouraging Investment in the Northern Triangle
/ALI members only event
Speaker:
Congressman Albio Sires, Chair, Foreign Affairs Subcommittee on Western Hemisphere, Civilian Security, Migration and International Economic Policy
ALI hosted a discussion on encouraging sustainable, inclusive development in the Northern Triangle. Participants recognized the strategic importance of the region and the nearshoring opportunities. The Congressman has co-sponsored legislation with Rep. Ted Yoho to foster economic development in the region to address the root causes of migration. He highlighted that the Northern Triangle is a good sourcing destination for textile and apparel sourcing that is being moved out of China.
The group discussed a number of recommendations regarding how to build more inclusive trade, investment and aid strategies in the region, including the need for customs alignment and trade facilitation improvements. The importance of regional integration was emphasized and facilitating business to capitalize on the region and not just one country. The other key issue raised was the importance of the rule of law and digital tools to make systems more transparent. Participants also discussed the importance of promoting, human rights, gender equity, worker access and financial inclusion to both address the root causes of migration and encourage long-term investment from American business in the region.