This document is a contribution from the Economic Commission for Latin America and the Caribbean (ECLAC) to the debates of the XXVIII Ibero-American Summit of Heads of State and Government, which took place on March 24 and 25, 2023 in Santo Domingo (Dominican Republic).

The first chapter of this publication presents a stylized overview of the Ibero-American economies based on population, territory, production, growth rates, inflation and macroeconomic indicators. In the second, the international economic situation is analyzed, characterized by changes in globalization and by a sequence of world crises that have led to a slowdown in growth and a reduction in financial flows to emerging countries. The third chapter addresses the fundamental issues of trade performance, the evolution of foreign direct investment and migratory flows between Latin America and the Iberian Peninsula. The fourth highlights opportunities for growth, collaboration, and sustainable development based on analysis of 15 growth-driving sectors. Finally, a section of final reflections is presented and elements that call for immediate action by the Ibero-American countries are highlighted.