Chile, Colombia, Mexico and Peru Sign Pacific Alliance Trade Agreement RT.com
go to original February 11, 2014

Family photo of presidents (L to R): Peru's Ollanta Humala, Chile's Sebastian Pinera, Colombia's Juan Manuel Santos, Mexico's Enrique Pena Nieto and Costa Rica's Laura Chinchilla at the convention center in Cartagena, Colombia on February 10, 2014. (AFP/Luis Acosta)

Chile, Colombia, Peru and Mexico have signed a treaty to eliminate tariffs on 92 percent of goods and services. The Pacific Alliance is free trade area of some 210 million people, accounting for more than a third of all Latin American and Caribbean GDP.

The move is a big step towards strengthening the countries' position alongside the strong neighboring trade pact – Mercosur - which includes Argentina, Brazil, Paraguay, Uruguay and Venezuela.

"This translates into more investment, more competitiveness and as a consequence, more employment, and good quality employment. This is the fundamental purpose of this whole exercise," the Wall Street Journal quotes Colombia's President Juan Manuel Santos.

Read the rest at RT.com

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!