The 10th Summit of the Pacific Alliance, the most dynamic economic, trade bloc of the region, kicks off today. Learn which countries make it up, which are observer states and about the group’s objectives.
What is the Pacific Alliance?
The Pacific Alliance is an innovative economic, trade integration mechanism based on a system of open regionalism.
It has an active and comprehensive agenda that, besides addressing trade-related topics, promotes joint and coordinated activities among export promotion agencies of the member states.
It encourages cooperation projects, educational scholarship programs, student mobility and immigration flexibility actions.
Created on 28 April 2011, it was made official in Antofagasta, Chile on 6 June 2012 with the signing of the Framework Agreement of the Pacific Alliance. Such agreement will come into force starting July 20 this year.
Alliance Objectives
1. To build a deep integration area to achieve free movement of goods, services, capitals and people.
2. To promote greater growth, development and competiveness of the Parties’ economies, aiming at achieving greater welfare, overcoming socio-economic inequality and promoting social inclusion.
3. To become an economic, trade integration platform with worldwide projection and special emphasis on the Asia-Pacific region.
Member Countries
The countries comprising the Alliance are four: Chile, Colombia, Mexico and Peru.
Presidents of Peru, Ollanta Humala; Chile, Michelle Bachelet; Colombia, Juan Manuel Santos; and Mexico, Enrique Peña Nieto, confirmed their participation at the summit held this year in the beach area of Paracas, Peru.
Observer States
The Pacific Alliance has 32 observer nations including the United States, Canada, Costa Rica, El Salvador, Guatemala, Honduras, Panama, Dominican Republic, Trinidad and Tobago, Ecuador, Paraguay, Uruguay, Morocco, China, Korea, Japan, Australia, New Zealand, India, Israel, Singapore, Spain, France, Portugal, Turkey, United Kingdom, Switzerland, Italy, Germany, the Netherlands, Finland and Belgium.
Panama and Costa Rica are two observer states that have expressed interest in joining the Alliance.
Additional requests have been received from Austria, Haiti, Indonesia, Sweden, Denmark, Hungary, Greece, Thailand, Poland and Georgia. The Council of Ministers gathering will decide, whether they are approved or not.
(END) JRM/FHG/RMB/MVB
Published: 7/1/2015