Evening star., 1933-10-29
LATIN AMERICAS WEALTH =
VIRTUALLY UNTAPPED
Economic Agreement Sought at Monte
video Would Facilitate Development
of Tremendous Resources. 3.

ural and industrial products-coal, IRON,
water power and oil-Latin America
does not even know approximately the
been said that Brazil possesses % per
cent of the iron reserves Of the world.
And of the mineral reserves Of the other
Latin American countries very little has
been so far disclosed.
Cooperation Limited.
Although the idea of a Latin Amer
ican trade union has only recently
been discussed formally a certain
amount of international cooperation
has existed for years, in commercial
matters, among the countries Of the
Southern Hemisphere.
This cooperation may be classified
into two categories-one involving gen.
eral conventions for the promotion Of T.
trade and the other special agreements
between two particular countries.
Among the former the Central Amer.
ican convention of 1928 is the most
important 1t provides for the free ,
interchange of natural products or
manufactured articles originating In
the republics of El Salvador, Guate--
mala, Honduras and Nicaragua. EX-
ception is made, however to coffee
and sugar and those articles whose
sale in the contracting republics Is
now, or may become in the future,
state monopoly, or unlawful"
A number Of inter American con-
ventions, to which most of the Latin
American republics are a part, may be
also cited. although these do not refer
to the abolition of customs duties, but
are, either directly or indirectly, con-
nected with the development of COM
| rnercial interchange among the Amer
ican republics.
Outstanding among them are the
following:
Convention on inventions. patents,
designs and industrial models; conven-
tion on copyright convention on trade
mark and commercial protection and
protocol on inter-Anerican registra-
ton of trademarks: convention On the
publicity Of customs documents; con-
vention on commercial aviation: con-
ventlon on customs procedure and port
formahties; convention on the uniform-
ity Of nomenclature for the classiica-
/ ton Of merchandise, and others Of
minor importance.
! Special Agreements.
Among the special agreements NAV
be mentioned those between the United
States and Cuba, Chile and Bolivia,
Peru and Bolivia, Argentina and Para
quay and Honduras and Nicaragua.
| The first one establishes a prefer
entail rate on certain commodities
entering the trade between the United
| states and Cuba. Except for those
| articles admitted free of duty, it pro-
Floes tAat all articles Of merchandise
oelng the product Of the soil or industry
I of the Republic Of Cuba imported into
the united States shall be admitted
at reduction of 20 per cent of the
rates OF duty, provided by the tariff
act of the United States approved
July "a. 1897, or "as may be provided
by any tariff law of the United States
subsequently enacted"
( On the other hand, the convention
stlpulates that certain commodities.
proouctS Of the soil or industry of the
United States, shall be admitted into
CuDa at reductions varying from IS
per cent to 40 per cent below the rate
charged by the tariff laws Of the Re-,
public of Cuba upon similar commodi-
ties from other countries.
! The special agreement between Chile
and Bolivia, an outcome of the war Of
the Pacific, which left Bolivia without
ports. specifics that the government Of
/ Chile guarantees the free transit
through its territory Of foreign mer-..
chandise which is unloaded when des-
/ S-HSN 4O4 oO44N4d, VI lIldL, proceeding
from that country, is shipped abroad
through Chilean ports.
/ Other Special Treaties.
As between Bolivia and Peru, a sim
liar treaty is in effect providing for the
free transit of merchandise for Bolivia
which arrives at the port Of Mollendo,
in Peru.
Between the Republics of Argentina
and Paraguay, special agreement ex-
lists, providing that Paraguayan prod
uctS destined for export, as well as
foreign goods entering Paraguay
/ through Argentina, may pass through
! Argentine territory without the paw
ment Of customs charges.
/ On January 80, 1880, a treaty of free
trade and exchange and a supplement
tary convention were signed by repre-
sentatives of Honduras and Nicaragua,
! tending to develop commercial rela-
: tlons between these two countries
On the whole, these special agree
ments between individual countries, and
the general conventions aimed at the
increase Of, and facilities for. CONNER
clal interchange among the republics
OF the Western Hemisphere, provide the
basis on which further arrangements
of reciprocal nature may be gradually
established by any number of countries.
Copyright, 1889