Overview of regional trade negotiations and agreements The IJI is a compilation of regulatory texts, commentaries, and follow-up on legal commitments and developments of an analytical nature concerning the various integration processes taking place in Latin America and the Caribbean. For news and to learn more about the progress made on trade agreements and negotiations, visit IJI.
This month’s trends
Between the end of April and May 24, 2016, the global trade policy agenda continued to be defined by the imminent ratification of the Trans-Pacific Partnership (TPP) and the impact this will have on how the network of trade agreements is configured. Other key factors were the notable dynamism within the Pacific Alliance and the expectations around the upcoming summit of the Asia–Pacific Economic Cooperation (APEC), to be held in Peru in November 2016. At the regional level, there was moderate dynamism in regional agreements and integration schemes, notably in Mexico’s regional agreements and within the MERCOSUR and the Pacific Alliance.
Over the course of the month progress was made on 20 existing agreements, three new agreements, and eight trade negotiations (five advanced and three new).
- TPP: Six countries needed to ratify the TPP (link in Spanish), Obama asks the US Congress to ratify the TPP and warns of China’s influence (link in Spanish), ECLAC identifies various risks in the Trans-Pacific Partnership (link in Spanish)
- Pacific Alliance: Mincetur: Pacific Alliance and MERCOSUR seek to develop common trade and integration initiatives (link in Spanish), The Pacific Alliance Protocol goes beyond a Free Trade Agreement (link in Spanish), ASEAN and the Pacific Alliance finalize a Framework Cooperation Agreement (link in Spanish), The Pacific Alliance eliminates tariffs on 92% of its products (link in Spanish)
- Central America–South Korea: Progress on the fourth round of negotiations for trade agreement between Central America and South Korea (link in Spanish)
- Chile–Philippines: Chile and the Philippines prepare to start negotiations towards FTA (link in Spanish)
- Chile–Uruguay: Chile and Uruguay move forward with negotiations towards a trade agreement (link in Spanish)
- Colombia–Panama: Colombia and Panama reach agreement on financial information sharing (link in Spanish)
- MERCOSUR–EU: The MERCOSUR and the European Union exchange tariff offers (link in Spanish), EU confirms that the MERCOSUR is willing to improve its offers (link in Spanish)
Selected news on trade agreements currently in force
- Central America–Dominican Republic: Dominican Republic and Honduras sign political, cooperation, and training agreements (link in Spanish)
- Colombia–South Korea: The challenges of an FTA between Colombia and South Korea: who wins? (link in Spanish)
- Andean Community (CAN): Countries from the Andean Community update the NANDINA nomenclature (link in Spanish), 5th Andean Business Forum gives impetus to intraregional trade (link in Spanish)
- Caribbean Community (CARICOM): CARICOM ministers of foreign affairs to discuss implications of major global issues, CARICOM single market and economy (CSME)
- Costa Rica–People’s Republic of China: Uncertain future for exports from Costa Rica to China (link in Spanish)
- United States of America–Colombia: How is Colombia doing four years into its FTA with the United States (link in Spanish)
- MERCOSUR: Working subgroup on border integration formed (link in Spanish), MERCOSUR meeting in Uruguay promotes border integration (link in Spanish), Ordinary Meeting of the MERCOSUR in Montevideo (link in Spanish)
- MERCOSUR–Bolivia: MERCOSUR agrees on Bolivia: Bolivia’s protocol of accession to the MERCOSUR is passed (link in Spanish). It remains to be enacted by the executive branch.
- Mexico–European Free Trade Association (EFTA): Negotiations begin to review the Mexico–EFTA Free Trade Agreement (link in Spanish)
- Mexico–Costa Rica: Costa Rica establishes consolidated land cargo transportation service to Mexico (link in Spanish)
- Mexico–European Union (EU): The EU and Mexico to begin negotiations to update their trade agreement on May 30 (link in Spanish)
- Peru–South Korea: Peru and South Korea end negotiations with a social security agreement (link in Spanish)
- Dominican Republic–CARICOM: Trade balance between the Dominican Republic and CARICOM remains negative (link in Spanish)
- Central American Integration System (SICA): SICA countries support the drafting of Energy Efficiency Strategies and Regulations (link in Spanish), Costa Rica discusses its return to the Central American Integration System (link in Spanish), CC-SICA Plenary Assembly reaffirms its commitment to integration (link in Spanish)
- Latin American Economic System (SELA): SELA and CLAD present webinar: “Index for public policies for SMEs in Latin America and the Caribbean” (link in Spanish), SELA and CARICOM to evaluate economic and cooperation relations between Central America, the Caribbean, and Mexico (link in Spanish)
- North American Free Trade Agreement (NAFTA): Mexico’s Ministry of the Economy confirms that NAFTA is gaining markets in Asia and Europe (link in Spanish)