- Alto contraste
Asia Pacífico | Observatorio Parlamentario
ECLAC: Latin American Pacific Arch and Asia-Pacific statistics
19 diciembre 2008
The growing, though limited, commercial ties between the Latin American Pacific Arch and the Asia-Pacific, the significance of China, and the prominent role of Chile as a partner within Asian economies are addressed in a recently published UN Economic Commission for Latin America and the Caribbean report entitled Latin America's Pacific Arch and its strategy for the Asia-Pacific.
The growing, though limited, commercial ties between the Latin American Pacific Arch and the Asia-Pacific, the significance of China, and the prominent role of Chile as a partner within Asian economies are addressed in a recently published UN Economic Commission for Latin America and the Caribbean report entitled Latin America's Pacific Arch and its strategy for the Asia-Pacific.
"The Asia-Pacific has become a key economic international bloc, but it remains an untapped market for most Latin America and Caribbean countries," states the report. However, the growing influence of the Asia-Pacific has resulted in a number of Arch countries signing or negotiating free trade agreements with it.
The Latin American Pacific Arch organization includes Colombia, Costa Rica, Chile, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama and Peru. The Arch seeks to be "a platform for Asia-Pacific policy dialogue and coordinated strategy to be employed by the countries of the Latin American Pacific Rim, and promoting private sector participation."
While the European Union and the United States remain the main destinations of exports, the Arch nations have become increasingly commercially dependent on the Asia-Pacific. Such is the case of Chile, which has the highest volume of exports (nearly 35%) to the region. Similarly, between 2004 and 2006, Chile in conjunction with Brazil (35%), Argentina (14%), Mexico (9%) and Peru (7%), accounted for 92% of Latin American trade with the Asia-Pacific. These figures have changed very little during the past twenty years.
Of the 11 Latin American countries that comprise the Pacific Arch, Chile is the leading exporter to the Asia-Pacific. "In the categories of raw materials and manufactured goods based on natural resources, Chile is the core supplier of exports as it accounts for more than half of the export supply in the former and more than 70% of the latter."
Finally, the dynamism of trade between the Pacific Arch and the Asia-Pacific has been impacted by a major factor: China. During the current decade, "China has managed to displace Japan as the largest consumer of exports from several Arch countries", eventually doubling Japanese consumption during the period 1990-1995.
"The Asia-Pacific has become a key economic international bloc, but it remains an untapped market for most Latin America and Caribbean countries," states the report. However, the growing influence of the Asia-Pacific has resulted in a number of Arch countries signing or negotiating free trade agreements with it.
The Latin American Pacific Arch organization includes Colombia, Costa Rica, Chile, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama and Peru. The Arch seeks to be "a platform for Asia-Pacific policy dialogue and coordinated strategy to be employed by the countries of the Latin American Pacific Rim, and promoting private sector participation."
While the European Union and the United States remain the main destinations of exports, the Arch nations have become increasingly commercially dependent on the Asia-Pacific. Such is the case of Chile, which has the highest volume of exports (nearly 35%) to the region. Similarly, between 2004 and 2006, Chile in conjunction with Brazil (35%), Argentina (14%), Mexico (9%) and Peru (7%), accounted for 92% of Latin American trade with the Asia-Pacific. These figures have changed very little during the past twenty years.
Of the 11 Latin American countries that comprise the Pacific Arch, Chile is the leading exporter to the Asia-Pacific. "In the categories of raw materials and manufactured goods based on natural resources, Chile is the core supplier of exports as it accounts for more than half of the export supply in the former and more than 70% of the latter."
Finally, the dynamism of trade between the Pacific Arch and the Asia-Pacific has been impacted by a major factor: China. During the current decade, "China has managed to displace Japan as the largest consumer of exports from several Arch countries", eventually doubling Japanese consumption during the period 1990-1995.
