In Bloc-Happy Latin America, the Pacific Alliance Hopes to Stand Out
In Bloc-Happy Latin America, the Pacific Alliance Hopes to Stand Out
"Unlike other regional blocs, which are essentially 'political talk shops,' the Pacific Alliance can boast results," points out AS/COA’s Eric Farnsworth on the bloc’s summit in Cali, Colombia.
BOGOTA - Latin America is fond of carving itself up into an alphabet soup of regional trading blocs and political configurations. There’s the CELAC, UNASUR, Mercosur, ALBA and the Andean Community, just to name a few.
But the two-year old Pacific Alliance is already something of a standout. On Thursday, the presidents of Colombia, Mexico, Peru and Chile, which form the Alliance, will be meeting in Cali, Colombia….
Unlike other regional blocs, which are essentially “political talk shops,” the Pacific Alliance can boast results, said Eric Farnsworth, of the Council of the Americas.
Already, Mexico has dropped visa requirements for Colombians and Peruvians, the four nations share investment and commercial offices in some nations, and are ready to begin sharing some embassies in Asia and Africa. The countries are also offering educational exchanges, and all four have free trade agreements with each other — a prerequisite to joining the bloc.
“In the two years since the Alliance was launched... they can talk about things like real financial integration and labor mobility, and that is real progress,” Farnsworth said. “That is attracting a lot of people’s attention, particularly if you compare it to all these other groupings where nothing really gets done….”
If Canada, Spain or another non-Latin country is admitted to the group “that’s where, in my view, this becomes a tremendously exciting project,” Farnsworth said. “Now you have the potential to lay the groundwork for a global trade relationship that’s based on willing partners….”
