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A US State Department envoy is heading to Chile, Uruguay and Paraguay to discuss mineral supplies and energy after President Joe Biden pledged to mobilize billions of dollars for a new investment platform to counter China’s influence in the region.
US Under Secretary for Economic Growth, Energy and the Environment Jose W. Fernandez’s visit from Nov. 5 to Nov. 11 seeks to “deepen economic cooperation and strengthen strategic partnerships,” the department said in a statement.
Biden presented the initiative on Friday at an Americas meeting at the White House that included Canadian Prime Minister Justin Trudeau, President Luis Abinader of the Dominican Republic and Chilean President Gabriel Boric. The US’s “closest neighbors” have an alternative to “debt-trap diplomacy,” Biden said.
On his first stop in Chile, Fernandez will discuss with government officials the “new financing tools” Biden announced.
Topics include trade, investment and strengthening mineral supply chains to accelerate the clean energy transition. Preparing for an Asia-Pacific Economic Cooperation summit in San Francisco on Nov. 15-17 is also on the agenda.
On Nov. 8, Fernandez will join energy officials from Latin American for talks in Montevideo, Uruguay, and discuss expanding investment in the region’s energy transition. The trip winds up in Asuncion, Paraguay, on Nov. 9 and 10. (https://finance.yahoo.com/news/us-envoy-brings-biden-latin-173352240.html)
Source: ©2023 Bloomberg L.P.
