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Peru gets more ocean, Chile keeps fishing grounds

January 27, 2014 • Business


Peru’s President Ollanta Humala, left, holds a Peruvian national flag during a rally celebrating the United Nations’ highest court ruling on a maritime boundary between Peru and Chile, at government palace in Lima, Peru, Monday, Jan. 27, 2014. The United Nations’ highest court set a maritime boundary between Chile and Peru on Monday that grants Peruvians a bigger piece of the Pacific Ocean while keeping rich coastal fishing grounds in the hands of Chilean industry. Humala, a retired army officer when he was elected Peru’s president, called Monday “one of the days that will mark my life, and I feel proud to have lived as a soldier and now as a politician. I feel prouder every day to be Peruvian.” (AP Photo/Juan Diego Contreras)

LIMA, Peru (AP) — The United Nations’ highest court set a maritime boundary between Chile and Peru on Monday that grants Peruvians a bigger piece of the Pacific Ocean while keeping rich coastal fishing grounds in the hands of Chilean industry.

Despite high emotions over the dispute, especially in Peru, the ruling is expected to have little effect on cordial ties between the two neighbors whose economic interdependence has grown greatly in recent years.

Chile’s outgoing president, Sebastian Pinera, called the International Court of Justice’s ruling “a lamentable loss” in a nationally televised address. But President-elect Michelle Bachelet, who takes office in March, said that “most of the fishing Login to read more

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