Bioeconomy and international trade in Latin America

The bioeconomy is a strategic sector for Latin America and the Caribbean (LAC)’s post-pandemic economic recovery and push for more environmentally friendly development policies. For this purpose, several countries in the region have adopted bioeconomy-related policies, including trade promotion measures in some cases. The region is a net exporter of goods corresponding to the basic and value-added sectors in basic sectors; however, it is a net importer of high-value-added goods. To increase both national and regional exports of the latter category, countries need to reduce tariffs and non-tariff measures, facilitate trade and harmonize standards. Regional coordination in these aspects would not only favor intra-regional trade, but would also allow for clear positions vis-à-vis other regions. In addition, intellectual property, regulation and policies on waste, public purchases and standards for products and processes based on biology should also be addressed.