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Regional summit ends with new trade agreement

Twelve countries agree to cut tariffs on food and medicine over five years.

Leaders from twelve countries signed a trade agreement on the final day of the regional summit, committing to cut tariffs on food, medicine and farm equipment over five years.

Supporters say the deal will lower prices and help farmers export. Critics warn that small manufacturers may struggle with new competition.

The agreement must now be ratified by each country's parliament.

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