Seizing the Cooperation Opportunities for Asia-Pacific and Latin America and the Caribbean: ADB and IDB Partnership for South-South Cooperation
Latin America and the Caribbean (LAC) and developing asia have rapidly become more intertwined as the two regions experience strong growth. Trade between the two regions has grown at an average annual rate of 20.5% since 2000, reaching an estimated US $442 billion in 2011. Developing countries are an increasingly important source of investment, and are now the origin of more than a quarter of worldwide foreign direct investment (FDI) flows. Most recently, china has emerged as an important source of capital in LAC. However, while FDI between asia and LAC is on the rise, flows remain concentrated among a few countries, and it has yet to keep pace with the robust increase in trade linkages.