3. Latin America and the Caribbean

�@Latin America and the Caribbean region has a combined GDP of US$5.6 trillion (2.5 times as large as ASEAN�fs) and a population of approximately 590 million. While many economies in the world are struggling, it is expected that this region will achieve economic growth of approximately 3.1% in 2012 (the global economic growth is expected to be 2.2%), which will contribute to further increasing of its presence in the global economy. Furthermore, per capita income of the region has doubled over the past 10 years, and the region has been drawing mounting interest as a large market with a middle class of more than 152 million people and as a producer of mineral resources, including rare metals, energy and food. In addition to its growing presence in economic terms, the consolidation of democracy in Latin America and the Caribbean has given the region greater voice in the international community.
�@Assisted by the bond between the 1.7 million Japanese descendents, or �gNikkeis,�h living in the region, and the 280,000 �gNikkeis�h living in Japan, Japan and Latin America and the Caribbean have traditionally maintained very friendly relationship. In light of this friendship, Japan has developed closer ties by supporting the consolidation of democracy and economic development in Latin America and the Caribbean. Today, Latin America and the Caribbean have come to be important partners of Japan in the international community, sharing fundamental values such as democracy and market economy. In order to further advance its relationship with Latin America and the Caribbean, Japan has been engaging in diplomacy toward countries in the region with a focus on the four following pillars: (1) strengthening economic relations with the region; (2) supporting the stable development of the region; (3) advancing cooperation in the international arena; (4) promotion of Japanese values in the region.
�@In terms of strengthening economic relations, Japan has been making efforts to create a better business environment for Japanese companies operating in the region through the development of legal frameworks such as EPAs, investment agreements and tax treaties, and through consultations with local national governments. Furthermore, given the demand for infrastructure within the region as a result of economic development, Japan has been actively developing infrastructure in the region that employs Japanese technology. Additionally, Japan has been working to secure a stable supply of resources and food from the region through the development of stronger cooperative relationships with resource and food rich countries.
�@In order to achieve stable development of Latin America and the Caribbean, it is critical to resolve persistent issues of poverty and social disparity that the countries in the region are facing. Japan has been proactively supporting the various governmental efforts to find solutions to these problems by way of financial and technical means to help each of the countries achieve sustainable economic development.
�@There are 33 countries in Latin America and Caribbean region and together they have a significant voice over international institutions such as the UN, where decisions are made by a majority vote. In addressing issues that the international community faces such as environmental pollution and climate change, nuclear disarmament and non-proliferation, and the UNSC reforms, Japan has been collaborating and cooperating with Latin American and Caribbean countries.
�@Japanese descendents, or �gNikkeis,�h have gained respect in Latin America and the Caribbean for their diligence and contribution to economic development, and are thus important diplomatic assets for Japan. �gNikkeis�h are highly appreciated by the people by Latin America and the Caribbean, contributing to the pro-Japanese sentiment in the region. Japan has been striving to gain understanding of Japanese values through Japanese diplomatic missions overseas (Japanese embassies and consulates-general) in its effort to further foster affinity toward Japan in Latin America and the Caribbean.