Private sector is key to the integration of Pacific Alliance member states, Confiep head Roque Benavides said in a speech during the Second Financial Integration Meeting of the Pacific Alliance in Lima.
The President of Peru's National Confederation of Private Business Associations (Confiep) recalled the Pacific Alliance was established six years ago on a day like today.
He opened the Second Financial Integration Meeting of the Pacific Alliance in the presence of authorities and businessmen from the four member nations.
The gathering was convened by the Pacific Alliance Business Council (CEAP), in coordination with Foreign Trade Ministry (Mincetur) and PromPeru, and was made possible thanks to the support of Inter-American Development Bank.
"To the business sector, strengthening and deepening integration in the Pacific Alliance have become a priority that goes beyond trade, and gains more and more relevance in aspects like financial integration, investment promotion and common market," Benavides stated.
The initiative, he continued, brings together efforts and interests of Chile, Colombia, Mexico and Peru in attaining the bloc's financial integration.
It explores new mechanisms to promote investment in the Alliance, attract investment from outside the bloc and turn financing sector into one of the pillars of economic growth, social progress and sustainable development in the four countries.
"We need governments to work at private sector's pace to achieve the Pacific Alliance integration goals," he continued.
The four founding nations of the Pacific Alliance represent nearly 36% of Latin American GDP.
If counted as a single country, this group of nations would be the eight largest economy in the world.
Moreover, Chile, Peru, Colombia and Mexico top the list of countries for ease of doing business in Latin America and the Caribbean.
Pacific Alliance
The Pacific Alliance is a deep integration process uniting Chile, Colombia, Mexico and Peru.
The bloc fosters the free circulation of people, goods and services across its territories.
It also aims to harness the opportunities provided by economic and financial integration to guarantee solid, steady and inclusive growth.
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Published: 4/28/2017