Latin America’s Pacific Alliance liberalizes trade

The presidents of ColombiaPeru and Chile, and Mexico‘s minister of economy agreed on Wednesday to liberalize 92 percent of their countries’ goods and services as part of the nascent regional economic integration bloc, The Pacific Alliance.

“We have just reached an agreement to liberalize trade between the four countries for 92 percent of the goods, and we are going to reach 99 percent in three to seven years,” Chilean President Sebastian Pinera toldbusiness representatives attending the first Pacific Alliance Summit.

Mexico, Colombia, Peru and Chile are on the path of free trade and consolidation to strengthen their economies and create a more seamless and easier environment to do business.

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