Trade Seekers

The drive for a Latin American common market, spurred by the recent Buenos Aires economic conference (TIME, Sept. 16), last week got its first results. In Santiago, Brazilian Foreign Minister Jose Carlos de Macedo Scares capped a cordial, busy five-day visit by approving a joint Brazil-Chile commission to establish South America's first common market between the two countries. A practical basis for the reciprocal market already exists: Brazil buys Chile's nitrates and Chile needs Brazil's coffee and cocoa. The committee starts work in 60 days on a draft treaty. Said Chile's President Carlos Ibanez: "If we succeed, your visit will be a landmark for a new economic organization for all the countries of Latin America."

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