brexit prompts latam economies to seek unity
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Brexit prompts LatAm economies to seek unity

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Arab Today, arab today Brexit prompts LatAm economies to seek unity

(L-R) Mexico's President Enrique Pena Nieto, Peru's President Ollanta Humala
Puerto Varas - AFP

Britain's vote to leave the European Union drove key Latin American powers to urge greater economic integration on Friday to protect their own trade relations from the fallout.

The call came at a summit of the Pacific Alliance, which groups Mexico, Colombia, Peru and Chile.

"Despite the specter of disintegration raised by so-called Brexit, the world has to organize itself into major blocs," Chilean President Michelle Bachelet told the gathering.

Mexican President Enrique Pena Nieto said all four states hope to forge a free-trade and migration zone between them.

The countries also discussed a possible tie-up with the five-member South American trade bloc Mercosur and with Southeast Asian grouping ASEAN.

Argentine President Mauricio Macri attended the alliance gathering in gesture of support for that move.

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