Latin America needs greater economic integration and a merger of Mercosur and the Pacific Alliance should be the objective, according to Argentine president Mauricio Macri, who insists in loosening trade restrictions in his country and the region.
Uruguay, a founding member of Mercosur has been invited by Pacific Alliance members Colombia and Peru to update and expand commercial agreements with the two countries and turn them into a free trade treaty, foreign minister Rodolfo Nin Novoa revealed during a hearing in Congress to analyze the current situation in Mercosur.
Argentina, Brazil and Paraguay have announced they do not support Venezuela as the pro tempore presidency of Mercosur, further deepening controversy in the group which could even hinder ongoing trade negotiations with the European Union and closer links with the Pacific Alliance.
Argentina and Mexico agree on the need to reach absolute integration and free trade, as part of the closer bilateral relations confirmed with the visit to Buenos Aires of Mexican head of state Enrique Peña Nieto.
Fishing for giant squid (Dosidicus gigas) finally seems to be improving in northwest Peru, which has brought some peace to Paita and other northern ports that rely heavily on this product. The lack of the species has been of great concern to the people of the area, but since last week the cephalopod has slowly reappeared in this part of the Peruvian coast. Now they expect the improvement is sustained and not only a temporary relief.
The Pacific Alliance must be ready to react to a possible surprise in the United States presidential election, Mexican Economy Secretary Ildefonso Guajardo said in Chile on Thursday.
The presidents of Chile, Colombia, Mexico and Peru, the four member states of the Pacific Alliance, met on Thursday in the Chilean town of Puerto Varas to strengthen their economic integration in order to deal with the ravages of global finance. They also called for closer links with the European Union to bolster education for development.
The Pacific Alliance must improve integration of financial systems to spur investment in key areas such as infrastructure, finance ministers from the four member nations said on Thursday. The group, composed of Colombia, Mexico, Chile, and Peru, has already reached several accords in areas such as free commerce and immigration rules, but admitted that significant opportunities for integration remained.
Six Latin American leaders and a president-elect will be participating in the two day Pacific Alliance business forum and presidential summit hosted by Chile and beginning on Thursday.
The Pacific Alliance under the helm of Chile, beginning next July first will reach out for closer links with Mercosur, particularly since Argentina's decision to join the block as an observer. The Argentine decision to join the Pacific Alliance as an observer fully harmonizes with Chile's strategy of making both blocks converge, according to Andres Rebolledo, head of Chile's Directorate of International Economic Relations.