Latin American and Caribbean nations must realize that direct investment is the lifeblood of development, and that capital will always go where risk-adjusted rewards are believed to be greatest.

It may not be sexy or capture headlines, but steady and sustained engagement of the parties based on a hard-nosed analysis of mutual interests will, in the end, prove to be the most effective method for securing the democratic, economically developed hemisphere that leaders envisioned a decade ago.

Greater attention to energy issues in the hemisphere among both producing and consuming nations and a long-term regional strategy is required

Political and social leaders have to look beyond political differences and focus on preparing their people to compete in a global economy.

We cannot meet the looming challenge from Asia absent greater North American integration, or without more rapid Mexican development.

In Latin America and the Caribbean, we already talk in terms of lost decades. If we fail to envision FTAA as a means to increase regional competitiveness and fail to work side-by- side to achieve this broader vision, we will have to start speaking of the region in terms of lost generations.