Peru’s ‘Look to Asia’ Strategy Pays Off

Peru is again on pace to end the year as one of the world’s fastest-growing economies, due in no small measure to its ambitious strategy of economic diversification. In 2010, it finalized four new free-trade agreements (FTAs) — three with Asian partners — and launched the test phase of a joint stock exchange, Mercados Integrados Latinoamericanos (Integrated Latin American Markets, or MILA), with Colombia and Chile. Peru’s global and regional trade diplomacy has resulted in more domestic investment and a larger network of export markets for Peruvian goods. Peru’s open-market policies can also be partially credited with the country’s rapid […]

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