EXCLUSIVE U.S.-Venezuela trade down 19 percent
Decline shows United States' declining dependency on foreign oil
Bilateral trade between the United States and Latin America grew 1.2 percent last year to $831 billion. Mexico continues to be the largest Latin American trade partner, and third globally, for the U.S. But Venezuela registered the largest drop in the region, after registering a 16.1 percent drop in its exports to the U.S., reflecting the North American country's declining dependence on foreign oil, LBC reports.
U.S. Judge rules in favor of Chevron in Ecuador case
Judge says ruling against oil firm was product of fraud and racketeering
U.S. District Judge Lewis A. Kaplan ruled that the judgement against oil company Chevron in an Ecuadoran court was the product of fraud and racketeering by a New York lawyer and should not be enforced. The judge's decision came as a resounding victory for the oil firm, but another setback for the plaintiffs in their two-decade long battle against Chevron, the Washington Post reports.
Mexico is partner country at ITB Berlin
Event will have more than 10,000 exhibitors
Mexico is the official partner country at this year's ITB Berlin. The event is expected to "increase the visibility of Mexico abroad," Mexican Tourism Secretary Claudia Ruiz (left) said. Last year, foreign tourist arrivals to Mexico grew 8 percent, and is expected to keep the same rate this year boosted by its emerging tourist markets such as Russia, Colombia and Peru, Fox News Latino reports.
Chile's economy grows at slowest pace in almost four years
Country's unemployment rate rose to 6.1 percent in January
Chile's economy grew 1.4 percent in January from a year earlier, the slowest pace since an earthquake hit the centre-south of the country in 2010. "For a number of quarters, economic activity, especially in sectors other than natural resources, has been growing below trend," policy makers said, Bloomberg reports.
Costa Rica approves free trade agreement with Colombia
Accord takes Costa Rica closer to becoming a Pacific Alliance member
Members of the legislative assembly of Costa Rica approved a free trade agreement with Colombia in the first round of debate. Both countries initially signed the accord in May last year, and was approved with only 70 percent of items exempt from tariffs, after Costa Rican industry and agriculture groups raised concerns about the treaty, the PanAm Post reports.
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