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Weekly Report - 26 March 2009 (WR-09-12)

PERU-CHILE: Maritime dispute comes to a head

Peru finally presented its case against Chile to redefine the shared maritime border before the International Court of Justice (ICJ) at The Hague last week. Peru lays claim to 37,900sq km of Pacific Ocean Chile considers its own. Chile now has a year to respond. Both countries insist that two-way trade, which grew significantly in 2008 and will be crucial in the face of the global economic downturn, will not suffer. Peru, however, is indulging in some sabre-rattling: the defence minister, Antero Flores-Aráoz, the most hawkish figure in the Peruvian cabinet, has thrown his weight behind a proposal to impose a 5% tax on mineral exports to boost the military budget.

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