IDB To Help Modernize Postal Services In Latin America And The Caribbean  

 

• The Inter-American Development Bank (IDB) says it has signed an agreement with the Universal Postal Union (UPU) to modernize and transform postal services in Latin America and the Caribbean (LAC). The aim is to promote regional integration and trade, strengthen value chains and foster the digital economy.
• Postal services have unique advantages to facilitate trade, including a network that can reach remote areas, transaction logistics, and linkages with other postal services and key actors in the trade process, such as customs and airlines.
• The IDB said improving these services across the region can lead to increased commerce and help develop the digital economy, especially for small and medium-sized firms (SMEs), which account for about 99% of businesses in Latin America and the Caribbean.
• The partnership will allow it to support countries as they incorporate the international guidelines and standards issued and promoted by the UPU.
• The institutions will also collaborate in researching data on trends and identifying existing gaps in postal services. The agreement includes sharing best practices and expertise from the modernization of postal services at the global level, which can be adapted and replicated in the region.

(Source: Caribbean Nation Weekly)