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Chile, Peru, Colombia and Mexico Agree to ‘Zero Tariff’ for 90 Percent of Inter-Trade
MercoPress Apr 02, 2013
Chile, Peru, Colombia and Mexico plan to sign an accord liberalizing 90% of trade among the group when they meet at the coming Pacific Alliance summit scheduled for May 23 in Colombia announced Chilean Foreign minister Alfredo Moreno.
“We have agreed that 90% of all products currently traded among the four countries will have zero tariff, following the signing of the document while the rest will have a timetable leading to the same objective”, Moreno told a meeting of foreign correspondents.
Moreno said the agreement would be signed by presidents Sebastián Piñera (Chile); Ollanta Humala (Peru); Juan Manuel Santos (Colombia) and Mexico’s Enrique Peña Nieto in the coming summit of the group that was started in April 2011 in Lima by the four most dynamic economies of Latinamerica representing 35% of the region’s GDP.
The summit in Cali, Colombia, the seventh of the Pacific Alliance will also be receiving leaders of countries that have requested to join as observers among which, Uruguay, Canada, Australia; New Zealand, Japan, Spain and Portugal. Two other countries (from Central America) Panama and Costa Rica have formally requested to join the alliance as full members.
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