Santiago, Chile. November  12 to 13, 2013

Services play an increasingly significant role in global development in all economies, from advanced to developing countries. This sector currently represents on average two-thirds of the world production and generates 44% of employment, up from 39% reported in 2000. An efficient and productive services sector contributes significantly to the growth and productivity of the economy and is essential to promote national competitiveness in different areas, including agriculture and manufacturing.

Developed countries have traditionally dominated production and global trade in services. However, developing countries, especially those located in the Asia-Pacific region, have registered a higher dynamic growth in such variables so far this century. Thus, exports of services grew 8% in Asia, 6% in the United States and 7% in economies in transition in 2012. As for Latin America and the Caribbean, a growth of 6.2% was reported, though with a cumulative annual growth rate of 8.96% in the period 2000-2012. Latin American and Caribbean exports of services in 2012 totalled US$ 152 billion, a similar amount to that registered by India or the European Free Trade Association (EFTA).

The services sector is the main economic activity in Latin America and the Caribbean, representing 74% of GDP and generating 79% of urban employment. This reality is more evident in the Caribbean subregion, where services contribute more than 90% of GDP.

The integration of the services sector in Latin America and the Caribbean is supported by 51 agreements, with 21 of them being signed among regions.

The organization of a regional meeting on the services sector offers an opportunity for authorities in charge of this topic, including Ministries of Economy and Trade and other entities responsible for the execution of sectoral policies, integration schemes, the services sector, the academic community and research institutions in the region, to provide information about the various initiatives, studies, agreements and policies carried out in this sector at the national and regional levels. This regional dialogue is expected to promote the exchange of information as an opportunity to take stock of and reflect on the challenges being faced by the countries in the region in the 21st century and to propose frameworks for action on sectoral development, regional convergence, and diversification and modernization of the economic structure of Latin America and the Caribbean.

Since 2009, the Permanent Secretariat of SELA has constantly followed up the development of this sector in the region, within the framework of its Annual Report on the Economic Integration of Latin America and the Caribbean. In addition, the document entitled “The services sector in Latin American and Caribbean integration” (SP/ Di N° 5-12), released in March 2012, gives some thoughts on the role of services in the creation of a Latin American and Caribbean market.

When dealing with services, it is necessary to take into consideration that this sector is composed of multiple and varied sectors, which follow particular policies according to their own characteristics. Thus, the creation of a space for discussion and exchange of experiences is essential for the construction of regional mechanisms that promote the development, integration and internationalization of Latin America and the Caribbean.