(Bloomberg) -- President Joe Biden is hosting the final day of the Summit of the Americas in Los Angeles, a gathering intended to deepen ties between the US and Western Hemisphere countries that has nonetheless exposed clear regional divisions. 

The US has announced a series of agreements with countries in the region on economic cooperation, health care, climate change and migration, but they come with little fresh investment by Washington. 

The impact of a new migration accord to be unveiled Friday is particularly suspect, as Mexican President Andres Manuel Lopez Obrador and the leaders of three Central American countries that produce much of the irregular migration to the US all declined invitations to the summit.

Close to 20 leaders, including the President of Brazil and the Prime Minister of Canada, together with the head of the Organization of American States, Luis Almagro, are scheduled to deliver speeches on Friday. The event will wrap up with three official stakeholder forums occurring at the same time to promote greater dialog between the region’s government and its people and businesses.

Key Developments

  • Biden Team Points at the Fed as Inflation News Worsens
  • Bolsonaro Says Meeting With Biden ‘Sensational’
  • Bolsonaro Fears Worst as Writer, Expert Missing in Amazon

(All times are Los Angeles, Pacific Time.) 

Brazil Attentive to Economic Issues Affecting World, Bolsonaro Says (11:25am)

The summit is a much-awaited opportunity to deal with a post-pandemic world and its economic challenges, Brazil’s President Jair Bolsonaro said at a plenary session Friday.

Latin American’s largest economy is a key player in global food security and its agribusiness complies with strict environmental laws, Bolsonaro told leaders gathered in Los Angeles, adding that such a “sustainable agricultural power” doesn’t need to explore the Amazon territory to expand output. 

Brazil will continue to import natural gas from Bolivia and is seeking to hold talks with Argentine President Alberto Fernandez on a gas agreement related to the Vaca Muerta field.

Bolsonaro also said his government is working relentlessly to find British journalist Dom Phillips and Brazilian indigenist Bruno Araujo Pereira, who went missing in the Amazon rainforest on Sunday. 

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