One of the goals of the Pacific Alliance (PA), the economic bloc made up of Chile, Colombia, Mexico, and Peru, is achieving an area of deep integration where goods and services are traded tariff-free without facing other barriers to trade. To this end, in addition to eliminating tariffs, now covering more than 98% products on average, the PA has implemented innovative trade … [Read more...] about How the Pacific Alliance linked up its single windows for foreign trade
International trade is of critical importance for economic and social development worldwide. A major cost of global trade is the regulatory requirement of submitting large volumes of information to governmental authorities to comply with import, export, and transit-related documents and certificates. Trade Single Windows are flagship initiatives that reduce these … [Read more...] about Making trade more efficient with blockchain
After 27 months of growth, the value of exports from countries in Latin America and the Caribbean (LAC) fell by 1.6% in the first quarter of 2019 compared to the same period in 2018. Annual export growth around 8.9%, as was the case in 2018, is now a thing of the past. These findings were revealed in the 2019 edition of the report Trade Trend Estimates: Latin America and the … [Read more...] about What caused the drop in exports from Latin America?
Could sea, air and land ports in Latin America and the Caribbean become more efficient and take advantage of new technological tools to compete in global trade? The quick answer is a resounding yes. Only a handful of countries in LAC – Chile, Jamaica, Panama, and Brazil, for example – have, or are implementing, advanced, digitally-connected port systems, in contrast with … [Read more...] about What global ports did to become more efficient
In recent decades, productivity levels have been low in the Andean economies (Colombia, Venezuela, Ecuador, Peru, and Bolivia). One explanation for this is the limited development of the region’s export sector. International trade accounts for just over 20% of the region’s GDP, far less than Asia, Europe, the rest of Latin America and the Caribbean (LAC), and even … [Read more...] about Exports, the Productivity Engine the Andean Region Needs