The Pacific Alliance: Pivoting to Asia

Formed in June 2012, the Pacific Alliance represents 215 million people and 39 percent of Latin America’s GDP, making the bloc the ninth largest economy in the world, according to the International Monetary Fund. It includes Chile, Colombia, Mexico, and Peru, which all have free trade agreements with each other and are responsible for half of the foreign trade in the region. Currently, Australia, Canada, Costa Rica, Guatemala, Japan, New Zealand, Panama, Spain, and Uruguay are observers.

The Pacific Alliance represents a coalition centered on open markets, free trade, economic integration, and foreign investment, with a clear orientation to expanding trade to Asia. The bloc received 42 percent of all Asian investment from 2003 to 2012. According to the World Trade Organization, the countries of the Pacific Alliance exported about $445 billion in 2010, almost 60 percent more than Southern Common Market bloc countries exported in the same year.

The Americas Society/Council of the Americas and the Pacific Alliance members’ trade and investment promotion agencies—ProMéxico, ProExport Colombia, PromPeru, and ProChile— held a public panel discussion with renowned experts on the future of the trade bloc. Coinciding with the date of our event, the next Pacific Alliance presidential summit took place in Cali, Colombia on May 23.

Panel: The Future of the Pacific Alliance

1. What is the future of the Pacific Alliance?
2. How can the regional private sector take advantage of the alliance?
3. What is the role of the Consejo Empresarial Alianza del Pacífico?
4. How likely are Costa Rica and Panama to join as members?
5. How can the Alliance generate more Asian investment?

Panelists:

• Amb. Carlos Urrutia, Colombian Ambassador to the U.S.
• Barbara Kotschwar, Research Fellow, Peterson Institute for International Economics and Co-Author of  “The Next Big Thing? The Trans Pacific Partnership and Latin America,”  in Americas Quarterly
• Chris Ryan, CEO, Lakeland Industries
• Sidney N. Weiss, Attorney, Customs and International Trade Issues
• Eric Farnsworth, Vice President, Council of the Americas and the Americas Society (Moderator)

Event Information: Andres Sada | asada@as-coa.org | 212-277-8369
COA Corporate Membership Information: Monica Vieira | mvieira@as-coa.org | 1-212-277-8344
Press Inquiries: Adriana La Rotta | alarotta@as-coa.org | 1-212-277-8384