Sec. 3248. Strategy to strengthen economic competitiveness, governance, human rights, and the rule of law in Latin America and the Caribbean
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Not later than 180 days after the date of the enactment of this Act, the Secretary of State, in consultation with the Secretary of the Treasury, the Secretary of Commerce, the Attorney General, the United States Trade Representative, and the Chief Executive Officer of the United States International Development Finance Corporation, shall submit a multi-year strategy for increasing United States economic competitiveness and promoting good governance, human rights, and the rule of law in Latin American and Caribbean countries, particularly in the areas of investment, equitable and sustainable development, commercial relations, anti-corruption activities, and infrastructure projects, to— the Committee on Foreign Relations of the Senate; the Committee on Finance of the Senate; the Committee on Appropriations of the Senate; the Committee on Foreign Affairs of the House of Representatives; the Committee on Ways and Means of the House of Representatives; and the Committee on Appropriations of the House of Representatives.
The strategy required under subsection
(a)shall include a plan of action, including benchmarks to achieve measurable progress, to— enhance the technical capacity of countries in the region to advance the sustainable development of equitable economies; reduce trade and non-tariff barriers between the countries of the Americas; facilitate a more open, transparent, and competitive environment for United States businesses in the region; establish frameworks or mechanisms to review long term financial sustainability and security implications of foreign investments in strategic sectors or services, including transportation, communications, natural resources, and energy; establish competitive and transparent infrastructure project selection and procurement processes that promote transparency, open competition, financial sustainability, adherence to robust global standards, and the employment of the local workforce; strengthen legal structures critical to robust democratic governance, fair competition, combatting corruption, and ending impunity; identify and mitigate obstacles to private sector-led economic growth in Latin America and the Caribbean; and maintain transparent and affordable access to the internet and digital infrastructure in the Western Hemisphere. Not later than 1 year after the date of the enactment of this Act, and annually thereafter for 5 years, the Secretary of State, after consultation with the Secretary of the Treasury, the Secretary of Commerce, the Attorney General, the United States Trade Representative, and the leadership of the United States International Development Finance Corporation, shall brief the congressional committees listed in subsection
(a)regarding the implementation of this part, including examples of successes and challenges.