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Trade reform can help Latin America and the Caribbean usher in new era of growth
By Guy José Bendaña-Guerrero & Asociados
Carlos Felipe Jaramillo, World Bank Group Vice President for Latin America and the Caribbean, highlighted for ambassadors the need for countries in the region to leverage trade policy to transition to a new growth path that creates jobs, reduces poverty and protects the region's wealth of natural resources.Mr Jaramillo said that the pandemic hit the Latin American and Caribbean region hard, causing economies to contract by 7% on average in 2020, the sharpest decline over the last century. He noted that after a sharp rebound in 2021, average economic growth in 2022 was expected to remain well below its potential.
"The region has the opportunity to emerge from the pandemic with a new growth paradigm that responds to its particular challenges and learns from successful cases in other parts of the world," he told participants. "This requires, among other things, that Latin American economies take a leap forward in terms of productivity and leverage open trade policies."
"Protectionism can be very tempting, especially in times of uncertainty, but it is a dead end for the investment, innovation and dynamism that are needed if we want to leave behind the region's sluggish growth during the past decade."
Roundtable participants discussed the key building blocks of a new, improved post-pandemic normal for Latin America and the Caribbean. In addition to creating an investment-friendly business environment and fostering competition, Mr Jaramillo told ambassadors that countries in the region need to focus on tackling other longstanding challenges by improving healthcare systems, enhancing educational outcomes, and addressing climate change through greater investment in renewable energy and supporting the adaptation of agriculture and other sectors to droughts and other extreme weather events.
Several ambassadors commented on the impact of the COVID-19 pandemic on Latin America and the Caribbean, the need to accelerate inclusive and sustainable growth, and the role of the WTO in supporting the region's post-pandemic economic recovery efforts.
Guy José Bendaña-Guerrero & Asociados
GUY JOSE BENDAÑA GUERRERO & ASOCIADOS has a long and prosperous tradition in the field of intellectual property (IP) in Nicaragua, with roots that go back to more than 100 years, resulting on long-term relationships with renowned clients and attorneys worldwide.
The firm has its origins in the law firm Henry Caldera & Henry Caldera-Pallais, founded in 1907 by Mr. Henry Caldera. That same year of 1907, through the efforts of Mr. Caldera, Nicaragua had its first Trademark Law. In the late 1930’s, Mr. Caldera’s oldest son, Dr. Henry Caldera-Pallais, after studying law in Nicaragua, attended the University of Michigan, where he graduated as a Registered U.S. Patent Attorney. Dr. Caldera-Pallais in 1964 was a founding member of the Interamerican Association of Intellectual Property (ASIPI), the first regional intellectual property organization in the Americas. The firm continued to grow during the administration of Dr. Franklin Caldera, son of Dr. Caldera-Pallais, who obtained his doctoral degree in law from the Universidad Centroamericana in 1973.
Since 1985 the current partners, Dr. Guy José Bendaña Guerrero and Mrs. Blanca Aragón de Bendaña, took over the management of the firm. Dr. Bendaña Guerrero, Director of the firm, has distinguished himself as one of the most respected authorities in Central America in the field of intellectual property and law in general, being the author of several books such as “Course of Industrial Property Law”, “Study of the new Laws of Industrial Property” and “New Study of Contracts “, among others. Mrs. Aragón de Bendaña has served as the firm’s general manager and, thanks to her excellent management, the firm has been in constant growth, with a highly qualified staff committed to excellence. Since 1996, partner Julián José Bendaña Aragón joined the firm, and has been standing out as one of the most recognized attorneys in the field of intellectual property.
We have adapted to the constant change of the business world, supporting our clients in finding the most appropriate legal solutions for each moment. The firm distinguishes itself by understanding the needs of its clients, offering personalized service and adding value to its activities.
Nowadays we continue to be the leading firm in Nicaragua in the area of intellectual property, and at the same time, we have been consolidating other areas of service within the civil, commercial and labor fields, as well as litigation and consulting in general. The firm is well positioned to guarantee a pragmatic service that meets the requirements of the most demanding clients.
