UK Only Article:
Made in China?
The Pacific Alliance is a great brand in search of a shared product
IN THE verbose annals of Latin American integration, the declaration of Lima of April 2011 stands out for its rare combination of brevity and impact. In less than three pages, the presidents of Chile, Colombia, Mexico and Peru agreed to launch the Pacific Alliance. Its aims were to promote “deep integration” of economies through the free movement of goods, services, capital and labour, and to strengthen ties with the world, and the Asia-Pacific region in particular.
The four members have moved swiftly. They signed an agreement in 2013 to abolish tariffs on 92% of merchandise trade, with the remainder to be freed by 2020. They have scrapped tourist visa requirements for each others’ citizens, and have opened some shared embassies abroad. The stockmarkets of Chile, Colombia and Peru agreed to join up in a regional bourse called MILA, which Mexico’s exchange joined in January.
In its short life, the Pacific Alliance …<div class="og_rss_groups"></div>