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Colombia, Chile, Peru, Mexico to Eliminate Trade Barriers

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January 28, 2013

Colombia Reports

Colombia, Chile, Peru, and Mexico will eliminate 90% of all trade barriers between their respected countries, said Colombian president Juan Manuel Santos on Monday. The agreement marks a new era of relations between the constituent countries of the Pacific Alliance, a trade bloc which serves to increase competitiveness in international commerce. Besides improving competitiveness, the Pacific Alliance was created to offset the Mercosur group, which includes Brazil and Argentina. The alliance has a combined GDP of $1.7 trillion dollars, which is equal to 35 percent of Latin America’s GDP.