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The XII Summit of the Pacific Alliance Culminated

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Cali, (June 30/17) – In signing the Declaration of Cali, the presidents of Chile, Michelle Bachelet; Colombia, Juan Manuel Santos; Mexico, Enrique Peña Nieto; and Peru, Pedro Pablo Kuczynski, expressed their commitment to strengthen the integration of the regional bloc, and consolidated a platform that encouraged investment and trade amongst the founding members.

The signed Declaration expresses the consent of the chairmen for the kick off of the negotiations to grant Australia, Canada, New Zealand and Singapore, the status of Associate State to the Pacific Alliance: “through the observance and implementation of agreements with high quality standards in trade disciplines”. These goals are aimed at achieving the fundamental objectives of the Pacific Alliance, of a strategic integration scheme, which drive the economic development and competitiveness of our economies.

The Pacific Alliance is an example of practical, effective integration, with very strong private sector participation,” said President Santos.

As the Colombian president stated: “this Summit opened a new chapter. We approved the creation of a new category, which allows negotiating free trade agreements with third parties, with blocks or countries.”

He reported that governments signed an agreement to avoid double taxation of pension funds of the Alliance, which has resources exceeding $450 million.

The participating heads of state reiterated their satisfaction with Colombia’s efforts to end the region’s only internal conflict.

On her behalf, the president of Chile, Michelle Bachelet, expressed her support to the peace agreements held in Colombia and indicated that ”we will continue to accompany them.”

Enrique Peña Nieto, President of Mexico, stressed that the Pacific Alliance “already shows very favorable results in trade terms and investment terms.” In addition, he said that during this Summit “the conviction of making the opening of free trade a development opportunity for companies and generating employment from investment has been reaffirmed.”

Peru’s president, Pedro Pablo Kuczynski, said it was necessary to strengthen economic activity, saying: “We need to grow more. We need to develop more. We need to attract more professionals, generate more jobs,” therefore exalted the approach of the four nations associated, “and that is why we give them the welcome in advance,” he concluded.