Biden to Announce 'Partnership for Economic Prosperity' in Americas

© AFP 2023 / CHIP SOMODEVILLAANNAPOLIS, MARYLAND - MAY 27: U.S. President Joe Biden delivers the commencement address during the graduation and commissioning ceremony at the U.S. Naval Academy Memorial Stadium on May 27, 2022 in Annapolis, Maryland. A total of 1,100 sailors and Marines graduated from the service academy.
ANNAPOLIS, MARYLAND - MAY 27: U.S. President Joe Biden delivers the commencement address during the graduation and commissioning ceremony at the U.S. Naval Academy Memorial Stadium on May 27, 2022 in Annapolis, Maryland. A total of 1,100 sailors and Marines graduated from the service academy.   - Sputnik International, 1920, 08.06.2022
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WASHINGTON (Sputnik) - US President Joe Biden is going to reveal his new economic partnership for the countries in the Americas, the White House said in a statement on Wednesday.
"At the opening ceremony of the Summit of the Americas, President Biden will announce the Americas Partnership for Economic Prosperity, a historic new agreement to drive our hemisphere’s economy recovery and growth, and deliver for our working people," the White House said in a statement.
The plan is designed to rebuild regional economies "from the bottom up and middle out," the statement said.
The United States has expressed its commitment to cooperate with partners, focusing on the largest drivers of growth and finding new tools to face different challenges, the statement said.
"We will strengthen our supply chains to be more resilient against unexpected shocks. We will foster innovation in both the public and private sectors, so governments can better address society’s most pressing challenges, and businesses can enhance their productivity," the statement said.
The Biden administration will also develop climate-related industries and confront climate change, the statement said.
The United States plans after the summit to initiate discussions with its regional partners over such key areas as reinvigorating regional economic institutions, mobilizing investment and making more resilient supply chains, the statement also said.
"Our economic security rests on supply chains that are diverse, secure, transparent, and sustainable. We recognize the importance of diversifying and re-balancing our supply chains to minimize disruption risks," the statement added.
The Ninth Summit of the Americas is taking place in Los Angeles from Monday to Friday.
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