Latin American trade has traditionally concentrated on the North American and European markets. The emergence first of Japan, then the Republic of Korea and Southeast Asia, and finally the People's Republic of China, changed this in a fundamental way, as Latin American economies have become vital suppliers of raw materials to the Asian region and consumers of capital goods, vehicles, and electronics from Asia. Foreign direct investment in Latin America is rising while communications and transportation between the two regions are improving. The growing trade and investment ties are bound to increase, which will require closer co-operation and trust between governments as well as between businesspeople.

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