If all goes well, next month traders on the stock markets of Chile, Columbia and Peru (proposed as the Pacific Common Market) will be able to seamlessly buy and sell the shares of companies listed with each other. After two years of negotiation, the Integrated Latin American Market will instantly become Latin America’s second largest stock market, after Brazil’s.

Next on the list is talk of an impending ‘free-trade’ agreement between the U.S and South Korea, Panama and Columbia. There’s wide spread belief, but by no means certainty, that a deal will be struck in Congress approving these agreements before the August recess. With so much rancor in D.C these days, it’s hard to imagine any deal getting done, but the odds are high this one will go through.

Emerging Markets

The proposed new Pacific Common Market offers investors a tantalizing offer but one that comes with plenty of risk and reward. As you review your international asset allocation, put this in the emerging markets category and understand the potential risks associated with international investing.

As you begin your research, a good place to start would be with ETF investment house I-Shares. They offer you a targeted approach to this growing region of the world. Some funds to check out further:

S&P Latin America 40 Index Fund (ILF)

MSCI All Peru Capped Index Fund (EPU)

MSCI South Korea Index Fund (EWY)

MSCI Chile Investable Market Fund (ECH)

Brazil Index Fund (EWZ)

Legal Disclosure: Investing in securities mentioned above involves a risk of loss