(Times of Israel) Dan Schwartz - With the opening of trade offices in Peru and Chile earlier this month, Israel is on track to greater integration with the Pacific Alliance - a trade group that also includes Colombia and Mexico. The combined GDP of Pacific Alliance nations constitutes 40% of Latin America's GDP. If they were a single nation, the alliance would form the world's sixth largest economy, according to the World Bank. Since 2007, Israel has had a free-trade agreement with Mercosur, the other large South American trade bloc that includes Argentina, Brazil, Paraguay and Uruguay. This is all part of Israel's strategy of expanding its "economic footprint in Latin America," said Ohad Cohen, director of the Foreign Trade Administration in the Ministry of Economy.
2016-08-12 00:00:00Full ArticleBACK Visit the Daily Alert Archive