What is the Pacific Alliance?
The Pacific Alliance is an initiative of regional integration comprised by Chile, Colombia, Mexico and Peru, officially established on April 28th, 2011. Its objectives are:
Build in a participatory and consensual way an area of deep integration to move progressively towards the free mobility of goods, services, resources and people.
Drive further growth, development and competitiveness of the economies of its members, focused on achieving greater well-being, overcoming socioeconomic inequality and promote the social inclusion of its inhabitants.
Become a platform of political articulation, economic and commercial integration and projection to the world, with emphasis on the Asia-Pacific region.
The Pacific Alliance is a strategic platform
-It is an open and inclusive integration process, formed by countries with alike views on development that are free trade promoters.
-It’s a dynamic initiative with high potential and business projection.
-Together, the economies of the four countries, are the eighth greatest economy in the world.
-Is oriented towards modernity, pragmatism, and political will to face the challenges of the international economic environment.
-It offers competitive advantages for international business, with a clear orientation towards Pacific Asia.
The Pacific Alliance is open to free trade
-The Pacific Alliance is the eighth economic power and the eighth export force worldwide.
-In Latin America and the Caribbean the block of countries represent the 38% of the GDP, 50% of the total trade and attracts 45% of the Foreign Direct Investment.
-The four countries gather a population of 225 million persons and have an average per capita GPD of USD 18 000.
-The population is mainly young and constitutes a qualified labor force as well as an attractive subset of consumers whose purchase power is in constant growth.
Effective cooperation space that promotes innovative initiatives
-Free mobility of people.
-Preservation and respect for the environment.
-Creation of a scientific research network on climate change.
-Academic and student exchange.
-Integration of securities markets.
-Opening of joint commercial offices and participation in fairs and exhibitions in the same space.
-Improvement in the competitiveness and innovation of micro, small and medium enterprises.