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This is a perfect example of how a Latin American bloc that includes Colombia, Mexico, Peru and Chile on Thursday agreed to eliminate tariffs on most goods to promote free trade between the countries and increase exports to Asia. This is what the actual purpose of trade blocs are meant to achieve, an increase in the GDP of the country that will encourage better living standards and ways of life. The presidents of the four countries decided to remove tariffs on 90% of all goods and to eliminate duties on the remaing 10%. Increasing profits consequently leading to growth.

The leaders of the Mexico, Colombia, Peru and Chile recently announced that they are finishing up their negotiations about the removal of the trade tariffs. The tariffs will be removed from 92% of goods, with most of the remainder disappearing over the next few years. Such legislation is expected to encourage a free trade between the countries of Latin America and be an example for the rest of the world. Ministers are seeking to push free market policies to spur growth, attract more foreign investment and integrate their capital markets and energy networks. Overall, free trade between the listed above four countries will result in lower prices of goods and services, better allocation of the resources and close cooperation of the economies.

High crime rate has hindered Caribbean economic development, report the United Nations Development Program. 8.5 percent of human population resides in Latin America and the Caribbean, but 27 percent of crimes occur in that region. Corruption in the policies is one of the difficulties in trying to combat crime. Although insecurity and violence are not directly a part of the high development index, these situations may effect health indicators and may reflect the standard of living of the people in the countries. High rates of crime may reflect poor standard of living, such as people not having enough to feed themselves. This could be reflected in low human development index of Caribbean countries. Insecurity and violence certain affect the well-being of the people, both mentally and physically.