The objective of INNOVACT will be achieved through the establishment of a platform for knowledge exchange and transfer of good practices on specific thematic areas among border regions from the EU and Latin America. The Latin American border areas covered by the project are Colombia-Ecuador, Colombia-Peru, Chile-Peru and Guatemala-Mexico. For each of these border regions, the project will facilitate (based on concrete examples from the European experience) the identification and development of strategies, action plans and concrete projects or programmes for the development of cross-border value chains that each participating Latin American border region can implement in the short term.
For this purpose and for each border region, it is necessary to get a clear understanding of recent developments, the current state, and expectations for the future as regards political, economic, social and cultural relations between the two countries; to establish the main characteristics of economic activity and trade exchange across the border; to understand the main institutional and socio-economic challenges the border areas face; as well as to identify the public policy priorities that have been defined at the national and regional level in terms of regional and cross-border productive development.
All these elements serve as a basis for the mapping, selection and development of action plans of the cross-border value chains in which INNOVACT supports the promotion of innovation and cross-border cooperation as key factors in creating competitive regional economies in the era of globalisation.