Latin America’s Pacific Alliance trade bloc creates trade opportunities beyond the region.
They are Latam’s fastest-growing economies, market-driven and sustaining an expanded middle class. The four countries of the Pacific Alliance – Chile, Colombia, Mexico, and Peru – aim to eliminate barriers to the free flow of goods, services, and labor among them. On August 26, they jointly announced an agreement to lift the tariffs on 92% of their mutual trade.
But the “Pacific Pumas” liberal trade policies don’t stop at the trade bloc’s borders, Datamyne’s Christopher Kahan said at the CalExport Conference in Long Beach, Calif., earlier this week.
In his presentation at the Conference’s Exporters Roundtable, Kahan noted that each member of the Pacific Alliance has a free trade agreement with the US and has opened its markets to US exports. They are among the top trading partners of the US – based on 2013 data, Mexico ranks #2, Colombia #20, Chile #21, and Peru #30 among US export markets. Collectively, the Pumas’ US imports in 2012 accounted for about 13% of the value of all exports that passed through California’s customs districts.
You can see Kahan’s presentation, which includes trade data on Chile’s and Peru’s top imports from California, their importers, and 1st quarter 2012 vs. 2013 trade volumes by transport mode, at http://slidesha.re/19loFCH.