16:15 | Paracas (Ica region), Jul. 01.
At the 10th Summit of the Pacific Alliance, held in Paracas, Peru will more than respond international expectations for the integration bloc comprising Peru, Chile, Colombia, Mexico and 32 observer nations, Peruvian Minister of Foreign Affairs Ana Maria Sanchez said.
The bloc’s Council of Ministers will meet with representatives of 32 countries, the Inter-American Development Bank (IDB), the Development Bank of Latin America (CAF), the Organization for Economic Co-operation and Development (OECD) and the European Union (EU).
The Pacific Alliance has raised particular interest in the international community, which is reflected in the substantial number of countries following the process.
“Peru attaches greater importance to the organization of the 10th Summit of the Pacific Alliance and assumes its role as leader with conviction and enthusiasm, committed to presiding over it with a dynamic and innovative approach,” the minister stated.
The Alliance has been working with pragmatism and efficiency seeking to complete its creation and define the principles required to create a free trade area, encourage the free mobility of their nationals and build up an effective cooperation platform.
“This is the institutional consolidation stage. The 10th Summit of the Pacific Alliance will become a milestone in the development of such an important consultation process,” the government official added.
She said the Framework Agreement through which the regional integration group was created in June 2012 will enter into force on July 20 this year. This will take place under the Pro Tempore Presidency of Peru, due to be held until 2016.
After explaining the Framework Agreement will allow the Alliance to take over international legal obligations, Sanchez stressed that the Paracas meeting will serve as an opportunity to analyze the bloc’s future projection.
“Four years ago Chile, Colombia, Mexico and Peru adopted an innovative approach based on the conviction that democracy, rule of law and free trade are unbreakable axes to reach economic development with social inclusion,” she pointed out.
(END) MVF/RMB/MVB
Published: 7/1/2015