President Bush signed documents to submit legislation for congressional approval of the U.S.-Colombia trade pact. The deal faces challenges in Congress, despite loosening trade restrictions for U.S. exports to Colombia.

New figures show that, while Latin America experiences better aviation safety, concerns persist. However, commercial demand in the region ranks among the world's highest as airlines operating in Latin America modernize and expand their fleets.

A proposal to create a South American defense alliance arose last week during a Brazil-Venezuela summit. As tensions between Ecuador and Colombia continue, Brazilian officials recommend a defense board to mediate in regional disputes.

While the U.S. presidential race sparks debate about NAFTA, officials spar over a U.S.-Mexico pilot trucking program. Critics raise fears about Mexican truckers on U.S. roads, but the Department of Transportation finds the project benefits U.S. truckers and trade.

With Brazil's economy holding steady in the face of worldwide financial worries, the country could play a leadership role on matters ranging from trade to economic policy. Yet concerns about a possible global downturn remain. 

Experts say China's appetite for commodities helps insulate Latin America against the sluggish U.S. economy. Others point to ways the region can take advantage of the windfall through reforms and infrastructure development.

Slowing of remittance growth to Latin America has been blamed on the U.S.' economy and lack of immigration reform. But some point to the remittance slowdown as a sign of success for Latin American economies.