ECLAC highlights the need to promote the full participation of women in companies for a transformative recovery

We are in a moment of cascading crisis. Latin America and the Caribbean is facing what ECLAC calls a development crisis, which poses additional challenges to overcome the structural knots of gender inequality in the region. Currently, 1 in 2 women is out of the labor market, while in the case of men this figure represents 1 in 4. If we look at the business world, on the one hand, women are overrepresented in small and medium-sized companies that were severely impacted during the pandemic. On the other hand, when analyzing large companies there is still an underrepresentation of women, mainly in higher-ranking positions.

This was one of the reflections shared by Nicole Bidegain Ponte, Social Affairs Officer of ECLAC’s Gender Affairs Division, in her presentation at the Context table for business women and entrepreneurs in Latin America. The event, organized by the embassies of Mexico in Chile and Chile in Mexico, was also attended by the Ambassador of Mexico in Chile and former Executive Secretary of ECLAC, Alicia Bárcena Ibarra and the Ambassador of Chile in Mexico, Beatriz Sánchez Muñoz, Gabriela Rosero Moncayo of UN Women in Chile, Luz Vidal Huiriqueo, Undersecretary for Women and Gender Equality of the Ministry of Women and Gender Equality of Chile (by video), Nadine Flora Gasman Zylbermann, President of the National Institute for Women ( INMUJERES) from Mexico (by video) and businesswomen from both countries.

The Social Affairs Officer of ECLAC’s Gender Affairs Division stressed that women entrepreneurs face significant barriers as a result of the structural knots of gender inequality and these barriers become even more evident when they seek to internationalize their companies. Among these barriers are the lack of access to financing, technology and information networks, the low presence of women in business rounds and commercial missions, the digital gender gap and the overload of unpaid work and care.

Bidegain Ponte pointed out that the region is at risk of facing another lost decade, not only in terms of growth, but also of being able to achieve sustainable development with equality and sustainability. However, Latin America and the Caribbean have the potential to transform this difficult situation into new opportunities that promote the full participation of women in companies for a transformative recovery, such as cross-border digital trade and the reconfiguration of global value chains to make the shortest and most resilient. This is an opportunity for the participation of women in productive chains that strengthen regional integration and diversification of the productive and commercial structure.

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See the broadcast of the event at Facebook.