OECD calls on Central America to build common strategy
The Organization for Economic Cooperation and Development (OECD) has urged Central America to develop a common strategy to boost economic integration.

The Paris-based OECD issued a report on Friday stating that the Central American Integration System (SICA), which was established in 1993 and includes seven nations, must be reformed to play a responsible role, and called on the nations to promote tourism, logistics, agriculture, textiles and light engineering, in order to make good use of their natural resources.

The region displays significant differences in wealth between and within nations, high levels of poverty, vast disparities between rural and urban economies, and a very large informal economy, the OECD said, adding that the region must boost the education and training of its workers.

"The countries must integrate to create markets and opportunities," said Mario Pezzini, head of the OECD's governance and regional competition division, via a video conference from Tegucigalpa, Honduras.

He also proposed a development distribution plan, focused on narrowing disparities and creating development funds.

The OECD document also advised the nations to move toward higher-value production as they are facing more external competition.

The OECD groups 30 member states sharing a commitment to democratic government and the market economy. Best known for its publications and its statistics, its work covers economic and social issues from macroeconomics to trade, education, development and science and innovation.