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MIL OSI Translation. Region: Spanish / Latin America / UN –

Source: Republic of Colombia

Bogotá, (Dec 14/20). “The OECD is ready to support Colombia in the implementation of its road map, in the so-called new‘ Commitment to the Future of Colombia ’, which was designed to face the social and economic ravages generated by the pandemic.”

This was stated on Monday by the Secretary General of the Organization for Economic Cooperation and Development (OECD), Ángel Gurría, during his speech at the act of signing the letter of intent that aims to explore a possible collaboration of the Organization that contributes to Colombia’s recovery strategy.

This action “seeks to articulate the different actors in the country around a great national agreement to promote the economic and social reactivation of Colombia,” he said.

In accordance with the provisions of this strategy and in light of the priorities established by the Colombian Government to carry out this collaboration with the OECD, the parties will explore the possibility of working together to develop and implement integrated policy solutions to achieve said recovery, in matters which include social protection and labor formalization, competition and regulation, and productive diversification and sustainability.

The approaches of the aspects contemplated in this letter of intent are:

—Social protection and labor formalization: for the country it is a priority to strengthen social protection mechanisms, which necessarily goes hand in hand with a decrease in the degree of informality.

Achieving these objectives requires an integrated national policy that generates the necessary incentives for formalization and also has specific strategies for women, youth and the rural population.

—Competition and regulation: OECD support is essential to promote reforms in competition policies, regulatory improvements and other measures that help to generate a more competitive environment.

As has been raised in various international forums, the changes just mentioned will be great stimuli to increase productivity, growth, exports and innovation in the country.

—Product diversification and sustainability: the current crisis makes it necessary to promote R&D and science, technology and innovation (CTeI) activities, which allow the diversification of the productive apparatus to be promoted.

This will result in greater resilience both in the productive sector and in public finances.

Given the current situation, these challenges must be addressed with a sustainability approach. For the development of this line of action, the importance of the OECD in the implementation of policies focused on regional productivity clusters, circular economy, blue economy and bioeconomy is highlighted.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

MIL Translation OSI