The Inter-American Development Bank (IDB) and the Universal Postal Union (UPU) has signed an agreement to modernize and transform postal services in Latin America and the Caribbean, aiming 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.
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.
Masahiko Metoki, General Director, UPU, said: “Posts have the mandate and infrastructure to serve people in all corners of a country, making them a powerful engine for socioeconomic development and inclusion. We are pleased to work with IDB to help posts across Latin America and the Caribbean in their transformation journey, so that they can deliver modern services and maximize benefits to communities and businesses across the region.”
The partnership will allow the IDB 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.
