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International Monetary Fund Revises Outlook for Latin American Economies

April 27, 2012 By Leave a Comment

Latin America Update: April 26, 2012

IMF

Latin American economies are expected to grow 3.7% this year and 4.1% in 2013.  (These estimates exceed the values published in January.)

Net Flow of Mexican Immigrants to USA Stops
For the first time in 40 years, data shows that net migration from Mexico to the USA has dropped to zero.

Argentina Among Top 5 Countries with Highest Credit Risk

We are keeping a close watch on Argentina due to high credit risk, the recent nationalization of Repsol, import and export restrictions, rapid inflation, as well as an unstable political environment.

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Mexico Prepares for G-20 Summit in June

February 25, 2012 By Leave a Comment

Latin America Update: February 22, 2012
G20 Mexico

Mexico Prepares for the G-20 Summit in June

Mexican President Felipe Calderón met this week with representatives from G-20 nations in preparation for the annual summit to be hosted by Mexico in Los Cabos this June (the first G-20 summit in Latin America). The G-20 is potentially the most influential association of finance ministers from 19 major global economies plus the European Union. G-20 economies account for more than 80 percent of global trade and represent two thirds of the global population.

Construction of Subway in Lima, Peru

Peruvian President Ollanta Humala announced the construction of Lima’s first underground train system. Over 30 kilometers of construction is expected to cost $2 Billion USD. The system will be operational within 6 to 10 years.

Colombia to Triple Infrastructure Investments

Colombia has an immediate need of $20 Billion USD worth of highway infrastructure development to support economic expansion. The government has pledged to triple infrastructure investment to 3% of GDP by 2014.

US & Mexico Sign Deep Water Oil Deal

The agreement lifts the moratorium on oil and gas exploration in the 1.5 million acre trans-boundary region of the Gulf of Mexico.

 

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United States – Colombia Free Trade Agreement Update

February 16, 2012 By Leave a Comment

Latin America Update: February 16, 2012

Update on the US-Colombia FTA

While the US-Colombia trade deal was approved by Congress in October, it’s not yet in effect due to a disagreement over Colombia’s compliance with US-imposed labor requirements. US officials report that the FTA should be active within “months.” Key U.S. exports will gain immediate duty-free access including almost all products in these sectors: agriculture and construction equipment, aircraft and parts, auto parts, fertilizers and agro-chemicals, information technology equipment, medical and scientific equipment, and wood.

Mexican Drought Hits Agriculture Hard

The worst drought in 71 years is currently affecting 22 of the 31 Mexican states with a 40% reduction in corn and bean yields, staples of the Mexican diet. Mexico is the United States’ third most important trading partner after Canada and China.

UNASUR to Propose a Fiber Optic Ring for South America at Meeting in Paraguay

The Union of South American Nations (UNASUR) will discuss a proposal to implement a Fiber Optic Ring to lower the cost of Internet throughout South America. Internet “bandwidth” in South America is three to four time more expensive than in North America. Representatives from the 12 nations of UNASUR meet again on March 9th in Asunción, Paraguay.

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Community of Latin American and Caribbean States CELAC

January 4, 2012 By Leave a Comment

Latin America Update: January 4, 2012

CELAC

2012: Year of Regional Integration

Loosely based on the European model, the nations of Latin America continue an agenda of regional integration. The newly formed Community of Latin American and Caribbean States (Comunidad de Estados Latinoamericanos y Caribeños, CELAC) consists of 33 sovereign countries in the Americas, and totals roughly 600 million people (excluding the United States and Canada).  Chilean President Sebastián Piñera is the President pro tempore of CELAC and the 2012 conference will take place in Chile (July).  The Organization of American States (which does include the US and Canada) will hold its annual assembly this year in Cochabamba, Bolivia (June). I need to plan my flights.

Equity Markets in Latin America

Colombia, Chile, and Perú will operate a unified stock market starting in May of 2012.  Mexico has signed a letter of intent to join this integrated market called MILA (Mercado Integrado Latinoamericano).

Growth Expectations for 2012

Latin American economies will grow approximately 4% in 2012 led by Panama, Peru, Colombia, Uruguay, Chile, Brazil, and Mexico.

2012 Presidential Elections

Venezuela, Mexico, and the Dominican Republic will all choose new leaders this year.

Too bad the pilgrims didn’t drink wine

Chile has been making wine for over 490 years; 75 years before the Pilgrims landed at Plymouth Rock. Chile is the fifth largest exporting country in the world with 4.3% of the market share (ahead of the US).

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Raining Fish in Honduras

December 21, 2011 By Leave a Comment

 Latin America Update: December 21, 2011

It’s Raining Fish in Honduras

Raining Fish

Image: boingboing.net

Legend has it that it rains fish in Honduras. It’s rumored that this phenomenon has been occurring for more than a century on a yearly basis between May and July. Dark clouds appear followed by heavy rain and hundreds of living fish on the ground. Beats paying $27.95 at Red Lobster.

Peru Gets Ready for 2012

Seven (7) free trade agreements signed by Peru with the European Union, Japan, Thailand, Mexico, Panama, Guatemala and Costa Rica will take effect in 2012.

Paraguay Blocks Venezuela’s Acceptance into Mercosur

Paraguay (pop 6.4M) continues to block Venezuela’s acceptance into Mercosur citing anti-democratic policies of the nation led by Hugo Chavez. Mercosur (Southern Common Market) is an economic and political agreement promoting free trade among Argentina, Brazil, Paraguay and Uruguay.

Record Q3 Growth in Colombia

Internal consumption, mining, construction, private & public spending, and foreign investment are responsible for some of the best economic growth data seen in Colombia during the past 4 years.

 

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Export to Mexico

October 29, 2010 By Leave a Comment

Population: 111 Millionmexico
Total Imports: $300 Billion
US Imports: $150 Billion (50%)

Mexico is the largest Spanish-speaking country in the world and the second largest export market for US goods, after Canada.

The North American Free Trade Agreement (NAFTA) created a free trade zone for Mexico, Canada and the United States. NAFTA is the most outstanding feature in the U.S.-Mexico bilateral commercial relationship. There are no tariffs on U.S. exports to Mexico and no significant trade barriers.

Market Opportunities

  • Agribusiness Sector – equipment
  • Airport and Ground Support Equipment
  • Automotive Parts and Supplies
  • Education and Training Services
  • Energy Sector
  • Environmental Sector
  • Hotel and Restaurant Equipment
  • Housing and Construction
  • Internet and IT Services
  • Packaging Equipment
  • Security and Safety Equipment and Services
  • Telecommunications Equipment
  • Transportation Infrastructure Equipment and Services
  • Agribusiness Sector – equipment

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