 It's my pleasure and a great honor To warm welcome you on behalf on the world the World Economic Forum My name is Philip Ruslan. I'm managing director of the managing board. I'm responsible for all our regional summits around the world and first and foremost I Will say thank you to the Panamanian government to the Panamanian business society for these outstanding support and as well for these beautiful and excellent Yesterday's reception. So President Martinelli. Thank you very much And as we mentioned yesterday, they could not be a better place than the canal And they could not be better timing Then it's 100th anniversary because The canal Is a proof is a symbol how infrastructure Can connect economies markets regions and people and that is part our three days program But we have also major topics like inclusive growth fostering workforce improving skills education science and technology But to say you the truth The program Is not the reason for the uniqueness of the regional summit on Latin America There are two reasons First reason are you as our respective participants Because we all know that Latin America is the fast-growing very important region in the world It has become more and more important the global economic world map and We are not here only for three days We are not here to rush in for three days To make business for three days and rush out after three days. No We are interested in a long-term Relationship and a sustainable partnership in the friendship. I know that is your mind-setting of doing business and the second reason is You as participants as well Because I'm convinced that you know many organizations and institutions which can bring people together particular business leader and public figures but the composition of All our participants is unique and the composition mirrors the philosophy of the world economic forum Our multi stakeholder idea. We are fear our politicians Seven heads of states heads of government From far away from Cosimo your prime minister We are fear more than 20 ministers state secretary. So public figures more than 400 CEOs business leaders social entrepreneurs We are fear science education and the youth for example our global shaper and young global leader And I'm convinced That these kind of garrison gathering is becoming more and more important because although we have Internet fucks Facebook Twitter and what's up? The personal contact is crucial to see in the eyes of your counterpart and Then to decide if she or he is a good business partner partner or at the end a friend That ladies and gentlemen is Our way to bring people together That is a way of the world economic forum to create a community of interest interest the region of Latin America to create a community of purpose to support you to Shape your regional agenda in Latin America And that is our way to create a community of actions actions to improve the state of the world and after the next three days actions to improve the state of Latin America So ladies and gentlemen The regional summit 2014 on Latin America is now opened Then please to thank you all our co-chairs the three days and to hand over to Marisol Agüeta our senior director and head of Latin America and let me say thank you to Marisol and her team for this outstanding preparation of our regional summit on Latin America now the floor is yours Thank you very much Marisol Thank you very much Philip. Indeed. We have had an outstanding support with the government of Panama The people of Panama and very specially from president Ricardo Martinelli. We're very very grateful, mr. President I would also like to acknowledge the presence of the president of Kosovo who's here with us today Welcome madam president. It's an honor to have you We're opening today the ninth world economic forum on Latin America with a presence of 650 Leaders from the region and from outside of the region in fact from 50 different countries in the world This is really a very important moment for Panama and for Central America We're very proud of being here mr. President and people of Panama Before beginning I would like to convey our sympathies to President Michelle Bachelet and to the people of Chile who have endured the very difficult moment of the earthquake that happened yesterday and I would also like to make a special a special acknowledgement to the participants from Venezuela that despite the ongoing very worrisome situation in their country have managed to be with us today a Welcome, you're very welcome, and we look forward into supporting favorable fair Unsensible solution to the strife that you're enduring at this time We have very distinguished guests in our panel today. We have with us. Mr. Ricardo Martinelli the president of Panama Kamala first start business are the prime minister of Trinidad and Tobago Mrs. Laura Chinchia the president of Costa Rica and president Otto Perez Molina of Guatemala The main question we will be addressing this morning is What strategies are Latin American countries pursuing to achieve inclusive growth? We will begin with you mr. President This Central American country which has a privileged geographic location and a buoyant economy Has invested in infrastructure and has introduced business friendly policies that embodies the Dynamism and the potential that this region has President Martinelli Panama. I'm a tenio tazas de crecimiento Tadama has had impressive growth rates It has been able to grow up 17 spaces in the global competitiveness index carried out by the World Economic Forum and Also, it has positioned itself in an amazing way as a key player in international trade Can you please share with us? What have been the main drivers? Behind these successful results. What are the recommendations that you would give to the leaders? The heads of states in Latin America to boost the sustainable growth in the region Thank you very much. Very much Marisol first on welcome madame price prime minister and Distinguished leaders of the World Economic Forum distinguished guests. I would like to wish first of all the recovery to the leader of the World Economic Forum who is going through different health issues and I'm going to proceed to respond all of the countries have a policy Called red carpet in order to attract investors and when you go to the different countries What you have is pretty much red tape instead and it's hurtful to say this Because the truth of the matter is that Panama's success has been in the first place That I am not a politician. I'm a businessman and as a businessman. I'm used to Looking and focusing on results and because we have a red tape policy Which is very difficult to take apart from one day to the next I think that the most important thing is For the precedent to be behind all of the projects the precedent has to be following up continuously Throughout all the work taken by the government because the steps and the procedures that all of our countries follow With that famous red tape Make the situation difficult and the execution difficult as well in Panama For example on the first thing that you're recommended when you hold the position as a president Is that you need to help certain sectors of the economy in order for those sectors to be productive and Feasible and the Economist always talk about the infant industry theory We did the exact opposite. However The government began with an aggressive public investment plan and by having this We had to reorganize the tributary and the fiscal Programs in Panama because there were many sectors that were simply not paying taxes There were many sectors for example the banking industry in Panama, which is a very successful industry had an average rate of 7.8 percent tax rate, however the Worker in the bank it could be the cashier or the manager himself paid 27.5 percent things that were so unjust had to be balanced out and So Panama's success is based on the fact that our budget 45 of 45 cent of every dollar is invested in infrastructure Everything that Panama has done has been to take advantage of its competitive advantage its geographic position the inter-oceanic canal the port hub That according to the World Economic Forum is the fourth best connected airport in the world The port hub, it's the sixth most important according to the World Economic Forum as well And likewise we have began with a very aggressive policy to change the education system in Panama Because it was lagging lacking it was obsolete and with a social inclusion policy According to the statistics 38 percent of Panamanians lived in poverty and extreme poverty But currently 23 percent live in poverty and extreme poverty So there has been an important reduction of poverty and extreme poverty due to the economic growth that there has been which it has been an average of nine percent in the past five years and Also, thanks to the fact that we are in a full employment economy and Also, thanks to the legalization of all the foreigners here in Panama that was a very risky move because in Panama, there are many foreigners and They were they were part of the informal economy Every time they were stopped by an officer or a policeman what was promoted was corruption and so because they are now legal and the taxes have been reduced and to give a Close follow-up to all of these strategic investments that the country has done as a state For example, this week we're going to be opening or launching the metro or the subway of Panama this Saturday, it's 14 kilometers and Soon we're going to be beginning or launching the second line Which has 27 meters and the third line that's going to be a monorail That's going to go to a city in the west side of Panama called Chorreira What we have done is to connect the points and I advise for you to listen to that famous speech from Stephen Jobs from Stanford University 2005 called connecting dots and what we have done in Panama is precisely that collecting connecting the competitive advantages that the country has The possibilities of being successful in areas as mobility air and Land transportation and maritime transportation. You mentioned that the best foreign of the First ministers has been the Venezuelan presidents and I say this as a joke in Other countries in Latin America there is a Lack of Tranquility or an attack to the freedom of speech or direct attack towards the private sector the citizens of those countries try to find Better returns on their investment Safer places and Panama has become a safer place It has become a safe place because it's protected from tsunamis earthquakes. There's low inflation. It's a safe Country where there isn't Envy towards foreigners. It's a country that receives with open arms people from abroad and That is a very important competitive advantage that the government has had because we've been able to have good Income through the collection of taxes and to implement an inclusive social program and boost economic growth without Economic growth. We would not be able to have social inclusion without this The country will not be able to change the education system And so I believe that the most important thing that I have done as a president has been changing the old Economic and financial structures that we had in Panama Giving opportunity to those that didn't have them previously by charging the taxes and giving a close follow-up To each procedure so that the investment were done and carried out and it has taken me five years to go to all the world economic forums and those held in Latin America so that this Summit was possible here in Panama because the best promoter that our country has is its President and the president and I advise all the presidents that are here to go to all the world economic forums because This is the place to be this is where you get to know people and this is where you move investments Philip seems to be very happy by what I'm saying Honestly all of the countries look to attract investment But the way that you attract investment more quickly and the best promoter that a country can have is its precedent At the same time however when the investors come to the countries they find this enormous amounts of red tape and bureaucracy and That bureaucracy and red tape has to be eliminated Progressively and that is not the work of a precedent. However when a work Within a state budget Carried out the precedent also wants to give a good follow-up from the beginning to the end. Thank you, Mr. President. We also have with us more than 400 Important leaders in Latin America and also from outside of the region. What message would you like to give to this business sector? What is the role in these successful strategies? I think it's very important that we like to advise all of the business people to participate in Politics if you are not part of politics someone else that does not have the capacity and your experience is going to step in This is not to give a donation to a businessman or to put the most foolish Relative to go in and become a politician. It's not a matter of donating money to who you think is going to win This is about participation and the person Needs to accept the position through selection One thing is the position through election Which is an issue because it does have an impact in the personal and private life and also costs in sacrifices and another thing is When a precedent is selected to be or a person is elected to be a minister or a company director My recommendation for all the business people in the private sector is for you to support your leaders Regardless of their tendency or the country that they come from because if Leader a country leader does not receive good advice and there's no support from the private sector Believe me. He's going to be receiving advice from other people that don't think the same way And that is the reason why I stepped in politics. I went into politics because I was perhaps as many of you I went to the parties talking about politics and I was criticizing but a minister once told me look from the outside We don't pay attention to you because all you're doing is criticizing you have to step inside so that in word Inside you can promote changes So my advice is for you to become involved in politics and for you to participate in the way that you consider is most appropriate for the improvement of the country and Also, because when a businessman Participates the person supports the country for its improvement. Thank you, mr. President Now we are going to Introduce Another successful story in our region It has been known for its notable economic success It ranks among the top 40 countries in the income per capita And it's no longer considered a developing car a country according to the OECD Its economic success has been based on the influence of the energy industry it has passed from become from being an oil best based economy to a Oil if to a gas based economy the natural gas based economy But you have also diversified it very very much into the services sector You have invested in developing tourism in developing the finance financial sectors And you have also had important success in manufacturing But economic growth is in fact of very little use without investment in the region's most Precious resource and this is its people Can you tell us madam prime minister about your social policies as well? I understand that you have been very committed in Promoting gender parity and addressing the needs of women and girls and Trinidad and Tobago Can you share what have them being the most successful policies towards that end and What is the impact that these policies have had? Certainly. Thank you. May I first? Take a moment to thank his Excellency President Martelly for inviting us here to Participate in this forum and for the warmth and hospitality of the government and people of Panama on partner rival May I also take one moment To share our concerns with respect to the natural disaster which occurred in Chile Just yesterday seems a long ago and so we share the concerns of the people there And of course in any way that we can assist from the region. We would be willing so to do With respect to your specific questions Yes, we are oil based energy based natural gas oil and natural gas and that Presents a curse as well as a blessing. I would have heard of the curse of oil where our economy is so Strongly dependent on the energy sector What happens is that the other sectors have been left aside? And the wages are so high the salaries are so high in the energy sector It is difficult to get people to work in other sectors in the economy One strategy that we have deployed was that of ensuring that every single child had a place in a primary school and Every single child thereafter would have a place in a secondary school We are now working towards a universal preschool education That is to say from ages three to five. We are well on our way to that We're building the preschool centers as we speak and we're about we hope to be about 60 percent history Education by the end of this year. So if you if you would want to say what I see as being The son the focal point for development and inclusive growth would be education Education is a passport out of poverty Education is your key to a better quality of life and that is where I've really generated a lot of my efforts now as prime minister I'm proud to becoming prime minister in my past life I was Minister of Education and when I was then Minister of Education I'd set that policy in the year 2000 for a free Secondary education. So for 10 years we have had every person in my country having the opportunity to access secondary education In addition to that when I became prime minister I promised in my In my conversations on the campaign trail I had promised it should be formed a government that every single child Entering the secondary school would be given a laptop computer. So education. Yes and technology I think those are two drivers for Greater inclusive growth We've did form the government and this year will mark five years It means that every child in a secondary school form one two three four five everyone Would have had access to a laptop and that process will continue In other ways what we have sought to do is diversified economy We like to think of ourselves because of where we are positioned like Panama We are very protected because we're very far south in the Caribbean and therefore the hurricane belt Officially be outside of the hurricane belt, you know, the hurricanes are very devastating to a lot of the Caribbean islands so that location English speaking a highly educated workforce and In the world standard we have been we have been voted as the world's third Happiest people in the world the third happiest people in the world. It has to do a great climate Joy to be full of life. We like to think of ourselves as the gateway to the Americas between Eastern and Western Located there in the Atlantic and in the Caribbean basin So I invite you to come to Trinidad Tobago present Martelli has been there And we were very happy to have him all the leaders in the region We have a lot of opportunities for investment because we are seeking to diversify the oil and gas sector We are looking into tourism as you mentioned. We are looking into ICT Development we are looking into shipbuilding the maritime industries several areas about seven pillars the foundations for diversify our economy and for lift-off in terms of that Those are our strategies basically I invite you as I say to come we have the world's greatest carnival No disrespect to Brazil The Trinidad Tobago carnival is one of the greatest in the world. Why? Because it's not at one venue. It's entire Nation through Auckland land that is an industry itself the creative industries We are seeking to expand the fashion industry the creative industry for those who have been really will tell you There was a Panamanian young lady who came this year to a carnival. I met her here. I said, how was it? She said I cried I just cried Why did you cry? She said it was just overwhelming it because it's just Thousands and thousands and thousands of people on every street on every corner in every park. That's our creative industry I welcome you to turn out and to be go. Thank you very much Philip. Thank you for inviting me. Thank you so much And we have among us another great woman leader from the region president Laura Chinchilla period president Dear president Costa Rica's in the process to become part of the Alliance of the Pacific and your country is known globally For many different successes among these due to the environmental awareness and the visionary investment in education a bet towards Development in the different sectors and also because of the strong democracy and very solid institutions The next April 6 we're going to have presidential elections in Costa Rica And we would like to know what is the legacy that you're leaving behind in Costa Rica the most precious legacy after your mandate Well, good morning, and thank you very much Marisol. Thank you Ricardo as well for hosting this event where Once again, we have a confirmation of the enormous capacity that Panama has been developing From the point of view of the invitation of different events and being a host We can see the modernization efforts that especially in terms of logistics and infrastructure Panama has offered to the whole world. It's also a pleasure to share This space with my colleagues from Guatemala and Trinidad and Tobago and of course with this enormous community of business people people from academia and also Others that are connected and concerned with the global agenda Specifically in this chapter of the forum on Latin America as Marisol was mentioning We are very close to the new chapter in Costa Rica as once again For many years We have already been one of the oldest and strongest democracy in Latin America We're going to go to the presidential elections To have a relay in the government and now that I was listening to Ricardo Martinelli about the enormous Facilities that are offered to the foreigners that I was asking myself Maybe he would like to welcome me and have give me a Migration privilege because I'm going to be out of the job soon So I promise not to compete with the Panamanian politicians. That would be an advantage Well, yeah, so we're going to go to presidential election soon as we have always done it in the framework of a great civic Fervor and respect also despite the differences in different parties and We hope that Costa Rica is able to maintain what perhaps has been its biggest distinctive seal when Marisol So gently introduced me She highlighted at least four elements that I consider tend to be key in the development of any nation Because nations as in the case of human beings are societies are living beings and they require in the same way as a human being requires the taking care of many balances so that that development is The most balanced type of development possible and that has been the distinctive seal of Costa Rica a very small country But that can manage to have Achievements institutionally in human development environmental sustainability and Also integration with the world for me. These are the four essential elements by which a government and a President has to guarantee in order to have that balanced development that we should aspire to and so Sometimes it's very difficult to be able to have a quick summary In one term What your footprint is going to be for example for a country like Costa Rica where the obligation that we have is to try to maintain that balance for example When a president in Costa Rica is asked, how are you going to grow? How are you going to add one two or three points to the girls internal product? Immediately they know that they're never going to be able to do it competing with cheap labor Or they're not going to be able to do it degrading the environment because we have expressively set aside to the exploitation of the environment Costa Rica does not want to exploit oil or extract gold and so it's much more complex to imagine the Platforms that would take into account all these elements to have a balance So I'm going to quote for each one of these pillars where I consider that we have had a legacy Which what it does what it does is to be part of that Developed and wholesome development that Costa Rica has aspired to in terms of Institutionality without a doubt the biggest challenge that we had as President Mastinette Martinetti mentioned was the issue of an excessive bureaucracy. So we tackled it strongly to have a improvement in the regulations in 2003 the World Bank considered us one of the ten countries in the world that improved the most in this issue I have to recognize that we still have much room to grow Because the truth is that it was an element that was reducing competitiveness in addition we also Foster a good practice that I recommend for Latin America Which is to integrate a presidential council of competitiveness and I chair that Board and it has a participation of the private sector It allowed us to agree into an agenda that we kept for this period of time And we were able to have important progress in many policies that affected the competitiveness of economy The third element in terms of the strengthening of the institutions or institutionality was to fight Strongly to Begin our process of adherence to the OCDE Because if something had affected the development in Latin America in its institutions It's not to have a clear route of where you want to move forward The OCDE is a club of good practices and we are going to be part of it the OECD We're going to be part of it in 2015 in human development We consider the education and it is the key axis or the pillar and from that point forward We consider that Universal education has been available for several years and so the challenge was not a challenge of axis but rather one of quality and Belonging and so we had important curricular reforms that were connected to the introduction of the logical thought process math science Technical education was also a key pillar. We brought in the culture of technical education And we also wanted to be assessed against the best standard because it's not valid to say oh, we're the best educational system in Latin America Chile and Costa Rica are Because we know the Latin America is a disaster from the educational point of view So we went to be evaluated against the piece of standards and this is also Giving us a position that shows quality and education and finally in terms of human development We extended as a universal access access all of the health care attendants to early childhood And so we're trying to close the gaps between children of different social sectors in terms of sustainable development I don't want to elaborate much on but I just want to highlight that there cannot be in Development with inclusion if we don't consider the sustainability component and the challenge in Costa Rica was To look beyond and we're the fifth greenest country in the world But we had not taken into account the blue agenda as we showed and also the topic of integration with the world Now it's not enough for nations like Costa Rica that have been open nations to sign bilateral trade agreements to provide Safety and security to investment and to promote trade the country progresses in a Reconfiguration in commercial blocks the agreement between Europe and the United States is perhaps one of the challenges The greatest challenges that the Latin American economy is going to face in this regard. We celebrate the Alliance group alliance trade group of the Pacific and we went with Panama We were one of the first countries that raised our hand to be members as observers and fortunately the last meeting in Cartagena in Colombia It was approved for Costa Rica to be the fifth country to be part of the Alliance of the Pacific And we think that one of the best things that has happened in Latin America is this it's a group of serious nations It's a group of nations that advocate for a solid integration of their economies And it is a group of nations that also is very clear on Where the world is heading in the next years. Thank you very much Thank You madam president We also have here with us Another head of state who is leaving an important legacy in Latin America President of Guatemala from the beginning of his office has been committed with the promotion of innovative policies in order to be able to phase woes that have been very severe in Latin America and Insecurity and the drug trafficking is one of these we have already seen mr. President that there is more awareness in terms Of the need to involve the civil society and the private sector in providing proactive responses and collaborative Efforts in order to address this issue We have also seen important measures that have been carried out in terms of new regulations in the United States Specific states of the country and also you're why that deep penalizes the use of certain drugs Can you tell us what your diagnosis would be and what your next steps would be in order to advance in? Innovative and cooperative matter or way in order to address this issue Thank you very much to all of you Thank you to the president and to Ricardo Martinelli and the first prime minister to be with us today As it was said by Ricardo who was fighting for five years to bring the forum here to Panama We have had two years in the same struggle and we hope that what Malah We hope that it still will continue in the president as presidency We have four years to go and we are you will be welcome to go to Guatemala the topic that is very important of the safetyness and Before I get into this topic. I would like to tell you That many Think that Latin American is a very violent region that many emphasized that Latin America The problems that Central America has and within the problems of Central America the north triangle That is called Honduras Salvador and Guatemala's because they are close to Mexico and of course Because the closeness with Mexico and the United States But before I enter about that topic I would like to mention that the region of Latin America is a region with a lot of potential and more so To frame the violence and their societies I think that as well as is being said by the colleagues of states that just have spoken the potential That has been demonstrated by Panama for the growth the stability the growth that Costa Rica has had for a long time The potential and the development of Trinidad and Tobago and many countries of the region. It is important Every day it could be reinforcing that potential That there is in Latin American region and of course to make emphasis of the potential that it is in the region of Central America in the countries of Sica We have been doing a great effort Not just in the safety that I'm going to be talking about that for the integration of our countries And we do that because we need to have economies of a bigger scale Guatemala we are 15 a million of People from Guatemala, but if we gather that the region we are 45 millions in Central America And we add south of Mexico. We have 70 million of this region There is a more interesting economy for entrepreneurs and for the investment that could come and from there We have made an effort, of course in Guatemala As well as Panama and Costa Rica and the other countries of Latin Central America They are in the same struggle to be able to obtain the confidence of the institutions That is something that it gives the stability and The opportunity of that potential for investors in there to come to the region and the region could be Better the infrastructure That so we could facilitate that the cost of the logistics is very important we are projecting six million of three times three millions of that and 1500 megas in energy renewable energy that they are already Invested in our countries and they're going to be ready in two years Not only to place us as a country with the cheapest energy, but it's also an effort to facilitate That those investment would stay at the 28th of this month. I could have I will have the opportunity in Mexico in a meeting That with the chiefs of states in the Caribbean chiefs of states and there I will have the opportunity and and I am very grateful to the president of Mexico's to have That it goes from Guatemala To Mexico then it's going to be a big change Regardless of the efforts that we have done it is going to cost 600 millions of dollars and that is the first step For Central America and we could hope that in the future This gas pipe would go to all the countries in Central America And I mentioned this because each one of our countries is is making their best effort to That to have all those opportunities But there we have a point that is always brought up and I am glad that is here in this forum too is the violence that them and the Vincolation that we have That could be the transit or the or the consumption of the this drugs I would like to say that regardless that Decisions have not really been made in this topic and the change of that this Policies in this drugs. They are steps that they've been done already We have had and I appreciate that Presidente Martinelli and of course Costa Rica that they were with me in Guatemala Recently and to start talking about this and we started talking about this Because in effect it has been in different forms and we believe that what we have said It has a solid base 50 years in this struggle against this ah traffic of drugs and and the results are not No, they are not the ones that we really hope to have this traffic of drugs is really Attached to violence and on safety in this in the countries This means that part of this that we have really following in this years They have not really given us the results that we'd like and we have to start looking at another alternatives that Could give off the privilege or that could give us another roots instead of Continue doing the same that we have been doing for the 50 years I think we I hope that it could give us the results But I also would like to say that there are also things that every country is doing and what I could say It's about Guatemala. We have done very important things in the law in the last two years and in the city we have obtained thirty-seven percent lower of the homicides and Thirty-seven percent of homicides in two years and this year We're going to lower to 50 percent to lower this homicides in the city of Guatemala in the department of Guatemala We have been able to lower to twenty-two percent and in Guatemala and the city of Guatemala They they were it was concentrated fifty percent of all the delinquency in In the city so we have to continue with the same models that they are really Working there are many things that we also doing in each one of the countries and that they are giving us important results I would like to say something also that is really important. I listen the other day precisely in another forum Something like this that someone could say that the best policy Social policy that it could be is a good economic policy and now I could add something else that the best policy that of Safety is is that the countries could have is also a good economic policy And because if we measure that if we have less poor people more employment more investment more opportunities We also been fighting against the poverty and also against the violence in the That we cannot deny that we they are levels that we really have to fight against and the region is working and they are They are making the best efforts. There is a big growth as it's being said like Panama and 3.5 growth last year Guatemala is also going Working very with the different sectors in the country and As we said in Mexico we can we we can be Under side or we fight with the private sector or work with the private sector and Guatemala We are working with the private sector and we are going to continue doing that with the private sector because that they want to invest And and give the opportunity to see if we put together all this situation I think that Central America and Latin America has great possibilities To take advantage of this potential And I think that we're going to be looking at this growing with a lot of importance Energy that you mentioned is a very important point for the development Sustainable development of our region Also, safety is that the public safety is very important and we also have another kind of safety net the human safety net And in that aspect Latin America had advanced Tremendously reducing the poverty from 44 percent to 30 percent in the last decade And according numbers of the world backup from yesterday for the first time The percentage of the population in the middle class Is above the the the poor Numbers we are talking about a middle class That's about 35 percent 32 percent in Latin America And that is a poor Uh population of 30 percent, but in the middle of this population, there's a lot of vulnerability And we would like to continue Asking too much really what is the strategy that you would recommend especially in terms of Private sexual participation What what do you think? How can this be attended in order to continue reducing the poverty And what are the opportunities to give these opportunities to the latin america and that is that we can go back to the same Thank you very much. I think that latin america Is full of opportunities The integration That the central americans are having and also with the Incorporation of the pacific partnership or alliance which are Business oriented and not ideological oriented and with the boosting middle class I think that the consumption market that we will have in latin america The opportunities that there are in all of the countries There are some countries that are wasting a lot of time like argentina and venezuela but there are countries that Eventually are going to recover and with Brazil starting to look outwards instead of inwards. I am sure That what is happening in latin america, which is the continent that has Wasted a lot of time in politics and social experiments that have not Had good results. I think that the solution the latin america has is to increase the trade amongst ourselves to point towards that middle class so that it's not the sole taxpayers and also to Give opportunities to the multi latin companies in different countries So that they have an opening of their capital So that all of us are able to be part of the growth in latin america. Thank you, mr. President Tomorrow, we're also going to be witnesses of a very important signature, which is the signature of the A free trade agreement between panama and mexico Congratulations, mr. President On the issue of social