Pacific Alliance aims to slash 90 percent of tariffs

Chile, Peru, Colombia and Mexico plan to sign an accord liberalizing 90 percent of trade among the group when they meet at the coming Pacific Alliance Summit, on May 23 in Colombia.

“We have agreed that 90 percent of all products currently traded among the four countries will have zero tariff", said Chilean Foreign minister Alfredo Moreno.

The summit in Cali, Colombia, will also be receiving leaders of countries that have requested to join as observers among which are Uruguay, Canada, Australia, New Zealand, Japan, Spain and Portugal.

Source: MercoPress