The Pacific Alliance - Member States and Observer States




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GEOGRAPHICAL NAMES

The Pacific Alliance is a mechanism for the economic and commercial integration of Chile, Colombia, Mexico and Peru, formally established via the Framework Agreement of 6 June 2012. The Alliance also establishes an important commitment to cooperation in the matter of flexible migration.

The deep integration sought through the Pacific Alliance makes the markets of its Member States even more attractive to the rest of the world, particularly the Asia Pacific.

Following are the countries which were member states of the Pacific Alliance as of February 2014.

Chile

Colombia

Mexico

Peru

Observer States

Australia

Canada

China

Costa Rica

Dominican Republic

El Salvador

France

Germany

Guatemala

Honduras

Italy

Japan

Netherlands

New Zealand

Panama

Paraguay

Portugal

South Korea

Spain

Switzerland

Turkey

Uruguay

United Kingdom

United States

Objectives of the Pacific Alliance:

To construct, in a participatory and consensual manner, an area of profound market-driven economic integration that will contribute to the free movement of goods, services, capital and persons.
To promote the growth, development and competitiveness of the Parties’ economies, with the objective of achieving greater welfare and overcoming socioeconomic inequalities.
To become a platform for economic and commercial integration as well as political coordination with global outreach, particularly towards the Asia Pacific. The Pacific Alliance has an active and comprehensive agenda based on results achieved to date in trade with joint and coordinated action between export promotion agencies, cooperation in climate change research, student mobility and flexible migration, amongst other matters.

Benefits of the Pacific Alliance

(Trade, investment and services)

Chile, Colombia, Mexico and Peru have a solid, democratic institutional structures, with regularly elected presidents, dynamic, globalized markets and positive investment conditions.
According to the World Bank's 2012 Doing Business Report, of the 32 countries in the Latin American and Caribbean region, the countries of the Alliance hold first, third, fourth and fifth place, respectively, in the ease of doing business ranking (Ranking refers to qualiﬁcation in ten aspects of ease of doing business. A good position means that the regulatory environment favors entrepreneurial activity).

Economic aspects

As an economic bloc, Colombia, Chile, Mexico and Peru have a total population of over 209 million inhabitants, 36% of the Latin American and Caribbean total, with a Gross Domestic Product per capita of US$10,011.

The Gross Domestic Product (GDP) of the Pacific Alliance member countries accounts for 35% of the total Latin American and Caribbean GDP. In 2012, the Alliance Members States' average growth rate of 5% was higher than the global average of 3.2%.

High macro-economic stability and their capacity for annual market expansion are characteristic of the bloc's four Member States.

In 2012, the Alliance Member States had an average unemployment rate of 7.1% and average inflation rate of 2.7%, below the regional average of 4.6%.
Together, the four members of the Pacific Alliance account for 50% of trade in the region, with exports of US$556,000 million and imports of US$551,000 million in 2012.
The Pacific Alliance countries’ main export products are fuels, mining products, agricultural products and manufactured goods and therefore their supply is complementary to Asia Pacific markets.
The countries of the Pacific Alliance represent 26% of total FDI flows of Latin America and the Caribbean.

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