Four Latin-American countries form new economic integration pact

There is a new group of nations in Latin America – the Pacific Alliance - uniting Mexico, Colombia, Peru and Chile.

Presidents of the four nations formally launched the economic integration pact at one of Earth’s most powerful deep space observatories in Santiago, Chile.

Colombian president Juan Manuel Santos said their first big move would be to drop visa requirements so citizens of all four countries could travel freely between them.

Chilean president Sebastian Pinera said the group’s goals included free trade and economic integration, with a clear orientation towards Asia.