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March 6, 2014

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EXCLUSIVE Twenty years of NAFTA
LBC spoke with top officials from the three member countries on the future of the agreement

This year marks the 20th anniversary of the North American Free Trade Agreement, NAFTA. LBC spoke with top representatives from the three member countries about what they think can be done to move the agreement forward: Executive Director, Americas Strategic Policy Initiatives, U.S. Chamber of Commerce Patrick Kilbride; former Mexican ambassador to the U.S. Arturo Sarukhan, and Canadian Consul General in Miami Louise Léger.

Costa Rican candidate Araya drops out of presidential race
Ruling party candidate took decision after seeing public opinion poll results

Costa Rican presidential candidate Johnny Araya, of the ruling National Liberation Party, announced the end of his campaign. Araya said he took the decision after seeing opinion polls where the public demands a shift in power away from the ruling party. His move leaves Luis Guillermo Solís as the sole candidate for the April 6 runoff elections, Bloomberg reports.

Carrefour mulls 2015 Brazil IPO
Brazilian unit includes cash and carry chain Atacadao

French retailer Carrefour is eyeing an Initial Public Offering in its Brazil unit, aiming to consolidate its presence in its second-largest market. The company is committed to retaining control in Brazil, after reporting a 5.3 percent rise in annual earnings, CEO Georges Plassat said. He added the company would consider other options, such as opening up capital to big, local investors, Bloomberg reports.

Venezuela cuts diplomatic relations with Panama
President Maduro accused Central American nation of plotting against his government

Venezuelan President Nicolás Maduro severed diplomatic relations with Panama, saying the Central American country is a "lackey" for the U.S. in a conspiracy against his government. "There are maneuvers by the U.S. government plotting with a lackey government that has a right-wing president, who is not worthy of his people, who has been working actively against Venzezuela," Maduro said, CNN reports.

Delta Air Lines opens largest maintenance facility in Latin America
The $55-million project is located near Mexico's Querétaro Intercontinental Airport

Atlanta-based Delta Air Lines opened a new aircraft maintenance, repair and overhaul facility near Mexico's Querétaro Intercontinental Airport, the largest facility of its kind in Latin America. "The inauguration of the facility reflects the strong alliance between Delta and Aeromexico," Delta chief operating officer Gil West said, Atlanta Business Chronicle reports.

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