México benefits from Pacific Alliance Agreement
Mexico.- Mexico had trade surplus with Chile, Colombia and Peru for a total amount of US$1.592 billion in the first quarter of 2012, and it is therefore the main beneficiary from Pacific Alliance, an agreement signed yesterday.
Exports from Mexico to these three countries in South America added from January to March to US$2.296 billion, while imports amounted to US$704 million.
Not only did Mexico had a surplus in its trade with each of these countries, but exports posted 2-digit year-to-year growth in the first quarter: 35.4% to Peru; 22.6%, to Colombia and 11.5% to Chile.
Pacific Alliance is an initiative which purpose is forming a deeply integrated area for the free circulation of goods, services, capitals and people among these four countries, which already have bilateral free trade agreements with each other.
Source: El Economista | Date: 08/06/2012