The Pacific Alliance will hold its 4th Business Summit Thursday June 29 in Cali (Colombia).
This poses a new opportunity for said trade bloc to assess its progress and analyze challenges to position itself as a key player in the international arena.
The
summit will gather 500 high-level businesspeople from the bloc's 4 founding members: Chile, Colombia, Mexico and Peru, plus 52 observer states.
The
12th PA Summit provides the setting for this meeting, which is organized by the Ministry of Trade, Industry and Tourism of Colombia —through ProColombia— along with the Inter-American Development Bank (IDB), the Pacific Alliance Business Council, as well as the trade and investment promotion agencies ProChile, ProMexico and PromPeru.
Once the Trade Protocol went into effect on 1 May 2016, member countries eliminated tariffs immediately on 92% of tariff lines, while the remaining 8% will reach full liberalization over the next 3 to 7 years, thus allowing the accumulation of origin.
The
Pacific Alliance has access to 225 million consumers, makes up more than 55% of Latin America's exports, and is recipient of over 44% of direct foreign investment to the region.
The next commercial event will be the Business Round in Pereira (Colombia) slated to take place August 28-29 in the presence of more than 600 entrepreneurs from the bloc's member countries and Asia-Pacific (China, South Korea and Japan) buyers.
(END) NDP/RMB/MVB