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Pacific Alliance Free Trade Agreement Reached

                                                            (Image source: Andina/Prensa Presidencial)

The Pacific Alliance, which encompasses Mexico, Colombia, Peru, and Chile have
received an agreement to become more integrated in terms of trade. The
Agreement will eliminate 92 percent of trade tariffs within the region. The
bloc has a combined GDP of $2 trillion, which accounts for 35 percent of the
GDP in Latin America. These four countries are considered among the fastest growing economies in Latin America. Countries like Guatemala and Costa Rica are expected to join the bloc within a year.