Economy & Business - May 2026

The general secretariat of the Andean Community (CAN) trade bloc met on 4 March with representatives of the Latin American steel association (Alacero), as well as with individuals representing the steel industry in each of the CAN member countries (Bolivia, Colombia, Ecuador, and Peru). Evidence presented at the meeting suggests that the Andean steel industry is rapidly losing competitiveness against imports from outside the region. The steel sector in CAN countries produces 3.4m tonnes annually (6% of the Latin American total), and directly employs 125,000 people, but has steadily lost ground to primarily Asian competition, with the CAN’s steel imports increasing by 303% from 2011-2025.