The Pacific Alliance, which will host its largest political and business forum from this Thursday (04.07.2019/06.07.2019/XNUMX) to next Saturday (XNUMX/XNUMX/XNUMX), was born as an initiative to project the commercial integration of Colombia, Chile, Mexico and Peru, countries that together represent the seventh largest economy in the world, with Asia-Pacific.
The group, which was formally created on April 28, 2011, attracted 38% of the foreign direct investment received in Latin America in 2017 and made sales abroad for 616 million dollars in 2018.
What is the Pacific Alliance?
It is an economic and development initiative launched in 2011 by the leaders of Colombia, Chile, Mexico and Peru to create a new way of doing business and encourage investment and trade, especially with Asia, given that they represent a market of 225 million inhabitants.
The group has also become a mechanism for political, economic, cooperation and integration coordination to promote greater growth and competitiveness among its four members.
Who are the members of the Pacific Alliance?
The Pacific Alliance is made up of Colombia, Chile, Mexico and Peru, which currently holds the pro tempore presidency, and 57 states as observers. In addition, Australia, Canada, New Zealand and Singapore are applying to become Associate States.
Its activities are carried out through councils of ministers, made up of foreign ministers and foreign trade ministers, high-level groups, national coordinators and their technical groups.
The Alliance also has a Business Council, an Interparliamentary Commission, and a Council of Finance Ministers, which work, among other things, on agreements related to the free movement of goods, services, capital and people, its ultimate objective.
What is the Alliance seeking by 2030?
The Pacific Alliance approved its Strategic Vision for 2030 during the 2018 presidential summit, with the intention of setting a direction for its integration and development aspirations for the next 11 years.
This vision is divided into four axes:
Vertical
The group estimates to double trade within the Alliance, through productive chains and the incorporation of small and medium-sized enterprises (SMEs). Promote trade opening without tariffs, sanitary barriers or technical obstacles, and with standardization of standards. Facilitate investment in technology-intensive sectors and infrastructure. Expand the participation of the private sector through the Business Council of the Pacific Alliance and strengthen the participation of SMEs. Consolidate the export of services.
Global
Become the main platform for commercial integration in Latin America, with more trade and cooperation agreements with other blocs and countries. Accept the entry of ten Associate States. Have active programs with Observer States and organizations that support its integration project and promote South-South cooperation.
Incorporate the four members of the Alliance into the Organisation for Economic Co-operation and Development (OECD) and integrate them into multilateral forums such as the G20. Have a visa so that foreign visitors can access the four countries with a single document.
Connection
Become a Digital Regional Market that incorporates information and communication technologies in its production processes. Promote access to new technologies for SMEs.
Citizenship
Have a sustainable agenda with projects for adaptation and mitigation to the effects of climate change and clean energy. Mainstreaming the gender approach in the Pacific Alliance. Strengthening the financial management of the risk of natural disasters. Achieving the free movement of people. Extending the Student and Academic Mobility platform with a system of recognition of degrees and a common framework of qualifications.
Source: EFE
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