Latin America Grows in Popularity as Trade Partner

According to a 2008 survey by the Economist Intelligence Unit, undertaken on behalf of Atradius, the leading global credit insurer, the countries of Latin America continue to be attractive markets for businesses looking for opportunities to expand their s

 A complex picture – investing and
trading in Latin America, is the outcome of the survey of more than
300 companies from around the world who currently trade or plan to
trade in Latin America. This is the latest in a series of reports
commissioned by Atradius, designed to inform businesses of the
opportunities and risks of trade with emerging markets.

The picture that emerges from the
report is not wholly optimistic — crime, corruption and political
instability are all cited as obstacles to successful trade — but
within the region several countries stood out as strong prospects for
successful international trade. Both Brazil and Mexico operate sound
market-friendly economic policies, while others in the region —
notably Venezuela and Argentina — have yet to come to grips with
their soaring inflation and perceived political instability.

Peru and Chile both fared well in
Atradius' survey when it came to the overall ease of operation for
overseas companies, scoring well for economic and political
stability, good corporate governance, legal system and customs, and
lack of contract disputes.

While those surveyed recognized that in
the short term, Latin America isn't immune to the global downturn,
the medium-term outlook was still upbeat.

Commenting on the report's findings,
Atradius Hungary's CEO Balazs Vanek observed: "Latin America
clearly has much to offer businesses that are looking for new markets
for expansion. It has a young and growing population, eager for
imported consumer goods, and the reforms of recent years continue to
improve the economic and political stability in much of the region."