economic empowerment of women

Thank You ambassador for that incredibly kind introduction and for your commitment to advancing economic opportunities for women throughout our Hemisphere.

secretary-general and distinguished ambassadors there's an honor to be with you here today and it was a privilege to meet with many of the female ambassadors earlier who represents your countries so beautifully.

your leadership inspires us all thank you as we gather here today I want to extend my deepest sympathies to the family of Senator John McCain, an American patriot who served our country with distinction for more than six decades the nation is united in its grief and the world mourns the loss of a true hero and a great statesman.

this afternoon I'm honored to join you to discuss women's economic empowerment in the Western Hemisphere,we come together today united by a shared goal we believe we know that the world is more prosperous more at peace,when women across the globe can fully participate in the economy advancing economic opportunity for women in our hemisphere is essential to fostering lasting peace stability and opportunities to prosper in Central and South America and far beyond.

As we mark the 70th anniversary of the Organization of American States we reflect upon the progress that has been made in recent decades over the past 35 years,the number of people living in extreme poverty in Latin America and the Caribbean has been reduced by more than 60 percent since 1990, women's labor force participation rate in Latin America in the Caribbean has raised by more than 30 percent, and just today as many of you may have heard President Trump and president Pena Nieto announced a major breakthrough in our trading relationship with Mexico which will benefit greatly both countries for decades to come.

these are remarkable strides, but as you know there is much much more work that needs to be done in many nations throughout our region, women still face enormous fully participating in all aspect of their country's economies and societies here in North America women still are underrepresented in boardrooms and in politics as well as in critical fields,such as science and technology we continue to experience a persistent gender wage gap in both the developed and developing worlds.

women are in fact one of the greatest funder tapped resources for accelerating global economic growth, research has shown a strong correlation between prosperity of a country and its level of gender equality, for example one recent study estimates that increasing Latin American women's participation in the workforce could grow the Latin American economy by over a trillion dollars within a decade.

our administration is committed to the economic empowerment of women across the globe as a matter of national security,when women are empowered communities thrive and countries prosper which is the best and most sure path to self-reliance, the president's national security strategy states societies that empower women to participate fully in civic and economic life are more prosperous and more peaceful to this end.

our administration has launched bold new initiatives to empower women to succeed in the global economy last fall we partnered with the World Bank, as the founding member of the women entrepreneurs Finance Initiative also known as Wi-Fi through this initiative we have increased access to capital markets and mentorship, so women in the developing world can start and grow a business a first allocation of a hundred and twenty million dollars is expected to mobilize over 1.6 billion dollars inadditional public/private sector funds which will unlock opportunities for women entrepreneurs across the developing world.

we have also launched USAID as women connect challenge to increase women's access to digital technology last year the.

President signed into law the woman peace and security act aimed at engaging women to help us prevent conflict and advance peace and in April my travel to Lima Peru to join OPEC CEO Ray Washburn to announce OPEX 2x initiative which ray will tell you a little bit more about later but really has the potential to be transformative within our hemisphere.

since launch we have committed more than a hundred and ninety five million dollars to empower women entrepreneurs across Latin America and the Caribbean we will continue to build upon our efforts to further expand and accelerate women's economic empowerment globally,in doing so we have identified three primary areas to focus our work.

first we will advance workforce development and vocational education so women have the skills and training necessary to secure family sustaining jobs in their local economies;

second we will promote women's entrepreneurship and provide women with access to capital markets technical assistance and networks;

third we will strive to eliminate the legal and cultural barriers that constrain women from being able to fully and freely participate in their local economies.

the United States is committed to pursuing these goals and furthering the success of programs like to 2x Americas because when we invest in women our economy soar our communities flourish and our nations achieve greater stability and peace.

I ask you to join us as we work towards this vision for our hemisphere, if we seize this opportunity we will set free the potential of our citizens unleash unprecedented growth and innovation and create a safer more prosperous and just future for our people and for the entire region thank you thank you for having me and thank you for this focus on such a tremendously important initiative Thank You secretary-general for hosting us here today.