The session is the most important biennial meeting of the Economic Commission for Latin America and the Caribbean (ECLAC). It serves as a forum for the consideration of pressing development issues for the countries of the region, as well as an opportunity to review the progress of the Commission’s work. The session also enables the governments of member States to examine the secretariat’s report on the Commission’s activities and thus apprise themselves of the work accomplished by ECLAC during the preceding year. Furthermore, through the programme of work that the governments adopt and the calendar of conferences they approve, they also define the mandates that will guide the Commission’s work in the future. 

On this occasion, the secretariat will present the position document entitled, Development Traps in Latin America and the Caribbean: Vital Transformations and How to Manage Them.

In this document, ECLAC analyses the situation in the region today and makes recommendations for the development of public strategies in four key areas: productive development, inequality and social inclusion, sustainability, and financing for development.

Latin America and the Caribbean is mired in three development traps: a long-term inability to grow, high inequality, and weak institutional and governance capacity. The region must address these challenges against a global backdrop of sweeping changes that include the reorganization of international trade flows and foreign investment, the impacts of climate change, and major technological transformations. In this domestic and external context, building a more productive, inclusive and sustainable future in the region requires specific, pragmatic policies and strategies for transformation. The way forward will depend on more than merely identifying the "what" and its respective objectives. It will also be crucial to deal with the more challenging issue of how to develop clear strategies for managing the desired transformations.