Latin American Trade Alliances
Latin America’s GDP was worth US$4.73 trillion in 2020, equivalent to around 5.57% of global economic output (World Bank). Its nations are members of a wide range of trade agreements both exclusively with other Latin American nations, and with other nations around the world. Latin America’s largest trade agreement, Mercosur, contains US$1.9 trillion of GDP, while the second-largest, the Pacific Alliance, contains US$1.8 trillion (World Bank). The region is one of the main global exporters of primary goods, with huge natural resource wealth, including in precious metals which will become more valuable as the move to renewable sources of energy accelerates. There is great potential for trade throughout the region, however it is often neglected in favour of more established trading partners.
Canning House gathered a panel to discuss trade alliances in Latin America, what they mean for trade within the region, and their significance to the wider world. We bring together a panel of experts to discuss the shifting dynamics of trade alliances, and what the opportunities are for trade and business in the region.
Dean of the School of Public Policy, LSE
Founder and Managing Director, Trade Strategies
Economist and Former Minister of Energy, Chile
Her Majesty's Trade Commissioner for Latin America and the Caribbean, DIT