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Inspired by @LatAmINVESTOR - a thread on UK trade with Latin America...
"In 2018, the LAC [Latin America and the Caribbean] region accounted for just 1.68% of UK exports, the lowest of any world region apart from Sub-Saharan Africa..." Shocking but not-that-shocking numbers.
"In 2018, the LAC [Latin America and the Caribbean] region accounted for just 1.68% of UK exports, the lowest of any world region apart from Sub-Saharan Africa..." Shocking but not-that-shocking numbers.
"...and indeed UK participation in LAC total goods trade has been declining, to 0.8% in 2018 from 1.10% in 2010." You can see that for yourselves if you look at competitors in the region. And yes, you'll have lots of competitors in the region.
"If the UK is to benefit from a future relationship with Mercosur, it will require determined overtures from London, which are happening, and improved co-operation between Brasilia and Buenos Aires, which is not." Agreed. Tricky Mercosur. Follow @i_bartesaghi @emilyrees_eu
"While shared membership of the bloc did bring the two nations closer together for a while, Mercosur has never really gelled, and most analysts concur that Mercosur has largely failed." A stuck-in-the-middle with you kind of feeling for Paraguay and Uruguay.
"Other regional organisations such as the Pacific Alliance and the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) have gained more international attention." Those guys really cracked it.
"Brexit has forced the British government to directly engage with many countries in Latin America, as it has had to sign continuity trade deals to ensure the benefits of existing EU deals were not lost." Check out https://www.gov.uk/guidance/uk-trade-agreements-with-non-eu-countries
While you wait for all this to happen: still very low tariffs for Chile, Colombia, Peru, Central America, Mexico. Still relatively high tariffs for Brazil, Argentina, Uruguay, Paraguay. But you need to check your own tariff code, there are surprises AND check non-tariff barriers
All quotes above come from this article by @LatAmINVESTOR I totally recommend the magazine to exporters, not just investors. Top notch business journalism about Latin America in English. https://latam-investor.com/2021/02/best-latin-american-trade-blocks-brexit-britain/
