Pacific Alliance Agreed to Close Tariff Agreement by March 31

An article from The Costa Rica News mentioned that the four countries of the Pacific Alliance (Chile, Peru, Colombia & Mexico) agreed to close on a deal by March 31, 2013 in which at least 90% of the products are free of duty. This announcement was made after a meeting to discuss the framework of the Summit of the Community of Latin American and Caribbean States (CELAC).

Other goals were set for the first part of the year (2013), including:

  • Establishing the mechanism of market access to trade
  • Establishing sanitary and phytosanitary measures
  • Eliminating technical barriers to trade

The Pacific Alliance, formed in 2012, represents about 35% of gross domestic product in Latin America. It also has as observer countries Uruguay, Panama, Costa Rica and Spain.

Click here to access the full article.

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