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Pacific Alliance Essay

845 words - 4 pages

1. The Pacific Alliance is a Latin American bloc formally launched on 6 June 2012 in Chile's Paranal Observatory at the organization's fourth summit. It groups Chile, Colombia, Mexico and Peru. Observers to the PA include Panama (which may become a full member), Costa Rica, Uruguay and Guatemala, among Latin American economies. Outside of Latin America, Canada, Australia, New Zealand, and Japan are important Pacific nations that have joined as observers.
It hasn´t changed much because it´s a new block. “In very little time, we have succeeded in moving forward rapidly,” said host Piñera, explaining that it would bring about a “deep integration” that will go “far beyond free trade and reach ...view middle of the document...

If people are also free to move between the countries, in addition to FTA, it would also be considered an open border. 
Colombia, Mexico, Chile, and Peru are responsible for half of the foreign trade in the region. This is USD 438 billion in exports and USD 418 billion in imports. They are also the recipients of roughly USD 55 billion in foreign direct investment.
Trade will be facilitated: The Member countries have worked on defining the issues of paperless trading, single windows to trade, the authorized economic operator, and advance resolutions. In customs cooperation, work is being advanced with the IDB for an analysis of the existing agreements on cooperation and mutual assistance, which aims to identify areas of concern.

3. The Pacific Alliance was formed in Lima in April 2011 as a way to increase economic integration among the four most dynamic economies in Latin America.  It has some membership overlap with the Transpacific Partnership (TPP).The PA countries main objective is to make progress towards the free flow of goods, services, capital, and people. To boost greater competitiveness and growth in the economies of its member states, as well as to widen the region’s economic relations with Asia-Pacific. This is the main reason for this four countries integration in the Pacific Alliance. Despite the fact that the Pacific Alliance Summit includes social and environmental objectives, the agreement will mainly focus on regional economic integration centered on the movement of people and the trading of goods, capital and technology. Their intense...

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