President George W. Bush signed legislation Wednesday extending for six months existent trade benefits to four Andean nations: Bolivia, Peru, Ecuador and Colombia. According to the bill countries that approve free trade agreements, FTA, with the US will have a further six months.
In five years Argentina's recovery from catastrophe has been swift, but the biggest worry now is energy and how long growth can continue, writes The Economist in its latest edition.
Two environmental experts lashed out the Chilean and Argentine governments this week for their failure to address environmental issues currently damaging ecosystems and agriculture on both sides of the Andes.
Representatives from the General Secretariat of Maritime Fisheries (SGPM) and the Spanish General Directorate of Fisheries Resources met with the Argentine lawmaker Silvia Giusti in the Argentine Senate for talks over the bill that tacitly proposes eliminating the so called double permits.
Petrobras began operating this week a new oil rig with an estimated initial daily production of 15.000 barrels of heavy oil, 17 degrees API in the Jubarte field off Espirito Santo state, according to a release from the corporation.
Oil firms operating in Argentina celebrated a law passed this month to transfer property of hydrocarbons from the nation to provinces, saying that it will foster legal security and investments. But critics say that it will do nothing but atomize control over oil and gas exploration and exploitation.
Argentina is facing a severe energy shortage that many experts blame on the lack of investments since the 2001-2002 economy crisis and despite GDP has grown at about nine percent over the last four years.
Argentina began this month ninety days oil and gas 3D seismic surveying of its continental platform in the Colorada Marina basin 200 miles off Mar del Plata.
Governments in Latin America and the Caribbean expect a fourth straight year of economic growth in 2006, topped by a jump of 12.5 percent in Cuba, according to a report issued Thursday by the UN economic agency for the region.
President Michelle Bachelet on Friday proposed a shake-up of Chile's widely admired but incomplete private social security system, urging a minimum government pension for 1 million elderly Chileans left out of the current program.