Author: Nathan Crooks

Source: The Miami Herald 

Speaking at the Business Future of the Americas conference, Bush also promoted the development of biofuels throughout the region. Bush, co-chair of the newly formed InterAmerican Ethanol Commission, said biofuels production was a ''breakthrough opportunity'' for Latin America. ''We simply don't have enough corn in the U.S.,'' he said.

The Business Future of the Americas conference was organized by the Chilean American Chamber of Commerce and drew attendees from over 20 countries throughout the region. As keynote speaker, ''unleasing entrepreneurialism'' was Bush's primary theme. He said the rise of populism in the region was occurring because of a ``perception that capitalism has not brought the promised benefits and that progress can only be achieved by government intervention.''

CALL FOR REFORMS

Bush urged Latin American leaders to push for increased transparency, more flexible labor laws, and sound fiscal policy in order to make Latin American economies more competitive.

''Lifelong employment is no longer a policy that can be adhered to anywhere,'' he said. ``Governments need to focus on education and training. The most important thing that we can all do is to make education the highest priority for the economy.''

Bush praised Chile as one notable exception in the region and said that even the United States envied Chile's sound fiscal policies.

He urged Latin American leaders to advance a deeper understanding of democracy.

''For too long, democracy has been defined as having a fair election,'' he said. ``For those of use who believe in freedom and liberty, it's become crystal clear that elections and economic reforms are not sufficient unless they are backed up by good government and respect for private property and the rule of law.''

U.S. DIPLOMACY

Bush said that the United States has a role in increasing democracy throughout the region by expanding financial support, increasing work with multilateral organizations, and in reviewing agricultural policies that hurt the developing world.

''The U.S. can continue to fight for free trade agreements,'' he said.

The full integration of the economies from ''Alaska to the Patagonia'' should be the goal to create a ''flourishing hemisphere,'' he said.

Bush also said the growing interest in biofuels resulted from basic needs for economic and national security, pointing out that if Mexico and Canada were taken out of the equation, most hydrocarbons imported to the U.S. came from unstable or hostile countries.

Bush's recent trip to Chile is his third time in the country. He first went there as a young banker in the late 1970s and later returned to help advance the wide-ranging free-trade agreement that was signed between Chile and the United States.