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While Latin America is recovering from the global economic crisis and has made progress in addressing major social challenges and promoting democracy over the past decade, the region cannot afford to be complacent, global and regional business leaders concluded at the closing plenary session of the World Economic Forum on Latin America 2010.

“Latin America has successfully weathered the crisis,” said Jorge Londoño Saldarriaga, President and Chief Executive Officer of Bancolombia and a Co-Chair of the meeting. In recent years, Colombia and many other countries have managed to improve law and order significantly, he added. “Ten years ago, we couldn’t have held a meeting like this mainly because of the security situation.”

But this is no time to be complacent, fellow Co-Chair James S. Turley, Chairman and Chief Executive Officer of Ernst & Young, warned. “One of the things that this region needs to do is stop the happy talk.” He argued that Latin American countries must focus firmly on pushing through necessary reforms, particularly to improve education, address corruption and deepen regional integration, among other pressing priorities.

Regional integration will not be easy, Luis Fernando Alarcón Mantilla, Chairman and Chief Executive Officer of Grupo Empresarial ISA, Colombia and another meeting Co-Chair, told participants. “Latin America is not a single Latin America. There are different governments and economies with considerable differences.” He worried that some countries will be slow to implement critical restructuring.

Meeting Co-Chair Luiz Fernando Furlan, Co-Chairman of the Board of Directors of BRF Brasil Foods, welcomed the positive outlook among Latin Americans. “One of the major perceptions I have from this meeting is the change in the mood compared to last year,” he remarked. “People are talking about the future now.”

In remarks to close the meeting, World Economic Forum Founder and Executive Chairman Klaus Schwab announced that next year’s World Economic Forum on Latin America will be held in Brazil. The venue and dates will be announced in the next few weeks.

Sourse: http://www.forumblog.org/blog/2010/04/no-time-for-latin-america-to-be-complacent-business-leaders-warn.html