Chile Forum

In the news: Chile becomes member of the new "Pacific Alliance" for economic purposes.

(CNN) -- Four of Latin America's most pro-business countries signed a pact forming a bloc for "deep integration" to promote growth and economic competitiveness.The Pacific Alliance, as it is known, was signed Thursday in Lima by the presidents of Peru, Colombia, Mexico and Chile. Panama also has the option to join to the group.The pact calls for increased economic integration among the group and the free flow of goods, services, capital and labor among them.

Rest of article here: http://edition.cnn.com/2011/WORLD/ameri ... index.html
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Related: http://en.mercopress.com/2011/04/29/lim ... and-mexico

Trade experts say the Pacific Alliance could progress more quickly than existing regional trade blocs such as Mercosur, which is led by Brazil and includes Argentina, Chile and Uruguay. It has been around for years but has made fewer advances breaking down trade barriers.

“Of the many integration projects in Latin America, this agreement has a better chance of success,” said Carlos Aquino, director of the center for economic studies at Lima's San Marcos University. “The four countries are stable democracies with open economies.”

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Reuters:

http://www.reuters.com/article/2011/04/ ... 5120110428

Though the four countries have trade deals with the United States, it has lost its allure as a trade partner because of a sluggish economy. And Colombia has grown frustrated by a U.S. Congress reluctant to approve a bilateral agreement.

Pinera warned the U.S., close the trade deal that is pending in congress or we would go shopping somewhere else. At the current rate, and I think most appropriate, it seems Latin American trade blocks are forming fast and ferrous all over the place. Biggest economic growth, with the most political stability and resources. Latin America is where the action will be over the next 20 years, not Asia.