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With elections scheduled in seven Latin American countries, 2014 will be a year of significant political developments in the region. As we enter 2014, Gateway House examines the important events that defined Latin American politics and economy in 2013
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The return of the Left after four years, with the election this week of Michelle Bachelet as the president of Chile, will not mean any drastic change of direction. Chile has the most stable democracy and dynamic market in Latin America, and its Left can become a model for other countries, including India
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The elections in Honduras returned to power the right-wing National Party. In contrast to the policies of other Latin American governments, in Honduras, one of the poorest countries in the region, poverty alleviation is not a priority for the conservatives. Will president-elect Juan Hernandez address this problem?
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India’s oil imports from Latin America increased from 4.5% in 2003 to 11% in 2012-13. This marks a diversification in India’s energy policy. With Latin America’s surplus energy production and discoveries in off-shore oil fields, India must further consolidate its oil trade with the region
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In 'Latin America Update' Gateway House lists some of the important events in Latin America over the past month
Courtesy: Ministry Of External Affairs, India
Indian Foreign Minister Salman Khurshid’s February 5 visit to Chile and Argentina is emblematic of the new era in Indo-Latin America relations. What does this increased engagement mean for India and Chile, two rapidly growing economies of the Global South?
Courtesy: Embassy of India, Venezuela
CELAC (Community of Latin American and Caribbean States) chose India as its first dialogue partner, expressing its intent to expand trade and diversify. Given the increased political will from both sides, can CELAC be the driver for India-Latin America relations or will bilateral ties maintain the status quo?
Courtesy: PMO
India seems to be treading down the path of fruitless populism that crippled many countries in the past, most notably in Latin America. But like Latin America, India too can embark on a course-correction by implementing pragmatic economic policies alongside progressive but results-driven social spending.
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The past decade has seen a significant rise in trade and investment flows between India and the Latin American and Caribbean (LAC) region. With an international system in flux, it is time for India and LAC to work together to shape a global order that better reflects current economic realities.
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Although India’s trade with Latin America has increased considerably, there is still much potential to be exploited. India’s should adopt an aggressive market oriented strategy by identifying local partners wherever possible to enable Indian companies to penetrate the region.