The Pacific Alliance (PA) summit, which includes Mexico, Chile, Colombia and Peru and is taking place in Puerto Vallarta (western Mexico), has on its agenda the expansion of this Latin American integration project with the participation of the Mercosur bloc.
Particularities of the summit
EcologicalThe presidential meeting coincides with the transition of the presidency from the outgoing President Enrique Peña Nieto to the next Government of Andrés Manuel López Obrador (2012-2024), the leader who won the elections on July 1 and will assume power on December 1. Peña Nieto (2012-2018) will receive his peers on July 24 and 25, to receive the pro tempore presidency of the Pacific Alliance that Colombia will give him.
Changes in the ExecutiveThis year, all four member countries experienced changes in the Executive Branch: Chilean President Sebastián Piñera succeeded Michelle Bachelet, and Martín Vizcarra replaced the resigning Pedro Pablo Kuczynski in Peru, while on August 7, Colombian President Juan Manuel Santos will hand over the baton to Iván Duque.
Expansion of the regional projectThe regional bloc will discuss the status of Canada, Australia, Singapore and New Zealand as associate members, and will also open the process of integrating South Korea.
Investment and TradeThese four countries capture almost 40% of Latin America's foreign direct investment and represent almost 60% of the region's trade, according to data from the host country.
The summit will host the work of the finance ministers of the four countries on the regulation of financial technology and plans to create a mechanism or collective investment of the Latin American alliance
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