Photo: Pacific Alliance
In an effort to enhance their respective development and economies, Chile, Colombia, Mexico and Peru signed the ‘Pacific Alliance.’ The commonality here being that all these countries have a Pacific Ocean coastline and their cumulative exports represent the majority of exports to Asia.
The countries respective President’s gathered late last week and formed a ‘deep integration’ that will promote and enhance economic competitiveness, and opens free market goods between the nations. The end goal is to generate jobs, new markets and increase capital investments.
The Pacific Alliance specifically targets the Asian markets whereby they would combine exports to that region. The agreement was signed in Lima, Peru with President Alan Garcia playing host to Chile’s Sebastian Piñera, Colombia’s Juan Manuel Santos and Mexico’s Felipe Calderon.