Q24N – The Pacific Alliance under the helm of Chile, beginning next July first will reach out for closer links with Mercosur, particularly since Argentina’s decision to join the block as an observer.
“The Argentine decision to join the Pacific Alliance as an observer fully harmonizes with Chile’s strategy of making both blocks converge”, according to Andres Rebolledo, head of Chile’s Directorate of International Economic Relations.
Chile will take the pro tempore presidency of the Alliance (Peru, Colombia Mexico and Chile), in the presidential summit which is taking place in Frutillar, south of the country.
Previous to the summit to which has been especially invited by Chilean president Michelle Bachelet, her Argentine peer Mauricio Macri, there will be a business forum to promote trade and investment.
“The Pacific alliance is a priority integration project of Chile’s trade policy. With only five years in construction, the Alliance has obtained many successes, and has a great potential”, said Rebolledo.
He added that President Bachelet will concentrate in advancing in the areas of goods, services, people and capital movements, and will try to make the most of the Trade Protocol which became effective last May first, which means basically lower tariffs.
Likewise Bachelet will continue to push for the Pacific alliance to keep expanding in the Asia/Pacific basin markets, as well as with the 49 observer countries and the rest of Latin America, thus the significance of approaching Mercosur.
Paraguay and Uruguay, Mercosur members are already observers of the Pacific Alliance, and now Argentina has joined.
Macri will be attending the summit in Frutillar together with the president of Costa Rica, Luis Guillermo Solís, a country which most probably, very soon with become the fifth member of the alliance.