S America launches trading bloc

[Chicago Democrat]

Last Updated: Thursday, 9 December, 2004, 06:12 GMT


S America launches trading bloc

South American countries are creating the third bloc in the world
Representatives from 12 South American countries have signed an agreement to create a political and economic bloc modelled on the European Union.

The new South American Community of Nations was launched at a summit in the Peruvian city of Cuzco.

Peruvian president Alejandro Toledo, said a new country was being born, which would one day have a common currency, parliament and passport.

Members of the new community will start by phasing out tariffs.

http://news.bbc.co.uk/1/hi/world/americas/4079505.stm

[Tempest]

1. And once again the U.S. is left out in the cold

Removing tariffs and trade barriers between these countries will make U.S. products more expensive compared to their own goods.

You think the U.S. trade imbalance is bad now, just wait.

U.S. farm exports will take the biggest hit.

[David__77]

2. A unified Latin America would be wonderful.

I have great hopes for unified Latin America and unified Europe. They are paving the way for a multi-polar world order.