Ideally, the nations of the Andes would be parties to a single free trade agreement with the United States that would go into effect the day after the trade and drug agreement expires.

As the G-8 Heads of State concluded their meeting in St. Petersburg, Russia, there was some lip service paid to the need to conclude the Doha Development Agenda, the latest round of WTO trade talks.

In an exclusive interview with AS/COA, Pablo de la Flor analyzed the future of the U.S.-Peru FTA and its implications for both countries and the region. De la Flor urged passage of the FTA in the U.S. Congress and noted that 60% of the Peruvian population believes that the agreement, ratified in Peru, will be beneficial to the country's interests.

Hernando José Gómez highlighted the benefits of increased market access and explained the domestic and international reaction to the agreement. He pointed out that opening an economy to international markets brings greater growth and a reduction in the income gap with richer countries.

It hasn't happened often in recent years, but some good economic news is now coming out of the Caribbean.

Just as markets tend to overshoot, so does political analysis, and recent commentary on Latin America is exhibit A.

It may not be sexy or capture headlines, but steady and sustained engagement of the parties based on a hard-nosed analysis of mutual interests will, in the end, prove to be the most effective method for securing the democratic, economically developed hemisphere that leaders envisioned a decade ago.