Pacific Alliance seeks to eliminate internal barriers to strengthen trade

Lima, Mar. 11. (Andina) Pacific Alliance Foreign Ministers will work on a proposal to eliminate, as quickly as possible, non-tariff and tariff internal barriers in a bid to enhance trade between member countries, Peruvian Foreign Affairs Minister Ricardo Luna informed.

Following the virtual presidential Summit between Peru, Chile, Mexico and Colombia leaders, foreign affairs ministers were tasked to remove existing internal barriers in these nations.

Pacific Alliance foreign affairs minister will meet on March 14-15 in Viña del Mar, Chile to address this issue and agree on a series of measures to ease free cash flow, in general, not only at stock exchanges.

“Our third task involves exploring negotiations with blocs like ASEAN […] to strengthen our economies in the short-term,” he said.

Luna referred to the virtual summit between Presidents Pedro Pablo Kuczynski (Peru), Michelle Bachelet (Chile), Juan Manuel Santos (Colombia) and Enrique Peña Nieto (Mexico), and said actions were taken to re-launch the bloc’s internal integration and external projection.

(END) FHG/RMB
Published: 3/11/2017

Pacific Alliance pursues deeper financial integration

Lima, Mar. 10. (Andina) The Pacific Alliance Business Council (CEAP) will foster financial integration among its member countries: Peru, Chile, Colombia and Mexico, during a Friday meeting in Santiago, Chile.

Oscar Rivera, President of the Peruvian Bank Association (Asbanc) and Vice-president of the National Confederation of Private Business Associations (Confiep), will attend the gathering on behalf of Peru’s private sector.

Financial integration purses coordinated initiatives to strengthen the Latin American Integrated Market (MILA) and enhance capital markets more generally.

The Pacific Alliance Business Council and the 12th Pacific Alliance Finance Ministers Meeting will run in parallel, bringing together senior business leaders from the four countries.

Besides financial integration, the agenda will cover fiscal management and transparency, in order to enhance the dialogue among countries and promote better practices.

The third theme has to do with catastrophic risk management, oriented towards innovative strategies for a comprehensive natural disaster risk management, including financial protection measures.

The meeting will feature topics on the organization of 2nd Meeting on Financial Integration —set to take place on April 28 in Lima— among Pacific Alliance member countries with the participation of ministers, as well as financial and capital regulatory authorities.

On the other hand, Pacific Alliance economy ministers will today meet to review the progress in financial integration initiatives. Peru will be represented by Minister Alfredo Thorne.

(END) NDP/RMB/MVB
Published: 3/10/2017

Peru President: Pacific Alliance to eliminate tariffs in bid to boost trade

Lima, Mar. 9. (Andina) The Pacific Alliance —a LatAm integration initiative uniting Chile, Colombia, Mexico and Peru— has agreed to remove tariff barriers in an attempt to improve trade among bloc members, Peruvian President Pedro Pablo Kuczynski affirmed on Thursday.

The announcement came after a Pacific Alliance virtual meeting with counterparts Michelle Bachelet (Chile), Juan Manuel Santos (Colombia) and Enrique Peña Nieto (Mexico).

The said leaders also agreed to expand relations with Southeast Asian nations, an area of millions of inhabitants, “who could provide a major boost to our trade.”

Likewise, it was agreed that “bridges will be built to other closer countries, such as Mercosur nations and Ecuador […] in order to facilitate trade and the flow of goods.”

The Peruvian statesman also highlighted the Pacific Alliance is “highly respected” for its anti-bureaucracy policy, a pivotal feature since “organizations need to be efficient and have clear objectives to operate.”

In this respect, he described the bloc as “a regional integration project that works very well” and must be strengthened to set an example for other areas in the world where alliances are dissolving, thus causing great uncertainty.

Mr. Kuczynski was joined by Ministers Ricardo Luna (Foreign Affairs) and Eduardo Ferreyros (Foreign Trade and Tourism).
(END) NDP/DHT/MVB
Published: 3/9/2017

Pacific Alliance: excellent regional initiative

Lima, Nov. 17. (Andina) The Pacific Alliance (PA) —regional bloc composed of Peru, Mexico, Chile and Colombia— is an excellent integration initiative on this side of the region, Pacific Economic Cooperation Council (PECC) Secretary-General Eduardo Pedrosa underlined.

The bloc’s relevance lies not only in its trade exchange, but also in the integration its member economies are reaching, he affirmed.

The PECC official also highlighted the meeting between PA nations and Asia-Pacific Economic Cooperation (APEC) Forum’s economies, as part of Leaders’ Week currently underway in Lima.

In this respect, APEC Leaders are paying increasing attention to the PA, and both integration blocs have plenty to learn from each other, Pedrosa observed.

APEC 2016 Leaders’ Meeting, taking place on November 19-20, will also feature Presidents Pedro Pablo Kuczynski (Peru) Michelle Bachelet (Chile), Enrique Peña Nieto (Mexico) and Juan Manuel Santos (Colombia).

While not an APEC Forum economy, Colombia has requested accession to the bloc. Its Leader Juan Manuel Santos has been invited to attend the APEC CEO Summit and will participate in the informal dialogue between PA and APEC.

On the other hand, Pedrosa regards new incorporations into the APEC Forum are not very likely given the lack of a membership-expansion policy. Integration is one of the vital achievements, he noted.

(END) DOP/MVB
Published: 11/17/2016

Peru: Added-value shipments to Pacific Alliance represent 67%

Lima, Oct. 26. (Andina) Added-value exports to Pacific Alliance (PA) countries accounted for 67% of Peru’s shipments to the bloc in the January-August 2016 period, Association of Peruvian Exporters (Adex) reported.

Shipments include refined copper wires, ceramic tiles and plates, polymer sheets and sulfuric acid.

According to Adex Economic Studies Management, exports to fellow countries (Chile, Colombia and Mexico) amounted to US$1.41 billion.

Of this sum, US$469.4 million were commodities and US$942.9 million non-traditional.

Most-demanded sub-sectors with added value were: chemical (US$257 million); farming and agricultural industries (US$211.3 million); and steel and metallurgical (US$127.2 million).

Likewise, shipments by following sectors stood out: metal-mechanic, non-metallic mining, various, textile, garment, fishing and woods.

Other products demanded by Pacific Alliance were tires, paprika, uncooked pasta, advertising printouts, avocados, unalloyed zinc, red palm oil, iron bars, grapes, among others.

Traditional exports

Traditional exports (US$469.4 million) were mainly represented by traditional mining (US$225.9 million), as well as oil and natural gas (US$176.6 million) sub-sectors.

Destinations

According to the ADEX Data Trade Business Intelligence System, Chile became the main destination for Peruvian products in the bloc as of August 2016, which amounted to US$640 million.

It is followed by Colombia (US$455.4 million) and Mexico (US$316.7 million). The two countries represented 32% and 23% of exports to PA, respectively.

The Pacific Alliance was formed on April 28, 2011 as a regional integration initiative comprised of Chile, Colombia, Mexico and Peru.
The bloc aims to become a platform for political articulation, economic and trade integration with projection towards the Asia-Pacific region.

(END) RGP/RGP/DHT/MVB
Published: 10/26/2016

Peru PM receives Henri Nestle Award

Lima, Jul. 8. (Andina) Peru’s Prime Minister Pedro Cateriano Bellido was granted the Henri Nestle Award in the ‘Recognition to the Career and Strong Social Contribution’ category.

He got such distinction for his social commitment and active participation in the 1st Youth Meeting of the Pacific Alliance held last May in Peru.

The said prize was granted by Nestle Peru’s Executive Manager Juan Gabriel Reyes.

During the official act, Cateriano expressed his gratitude to the multinational food company and the Swiss Government.

The ceremony saw the presence of Switzerland’s Ambassador to Peru Hans Ruedi Bortis and Nestle Peru’s Corporate Affairs & External Communications Manager Gisella Rojo.

(END) FHG/HMC/RMB
Published: 7/8/2016

Après le Brexit, l’Alliance du Pacifique veut plus d’intégration

Puerto Varas (Chili) – L’Alliance du Pacifique, qui regroupe Chili, Colombie, Pérou et Mexique, a affirmé vendredi, lors de son sommet à Puerto Varas (Chili), l’ambition de resserrer ses liens face aux fantômes de la désintégration surgis avec la victoire du Brexit au référendum britannique.

Malgré certains fantômes de la désintégration suscités par le dénommé Brexit, le monde tend à s’organiser en grands blocs, a affirmé la présidente chilienne Michelle Bachelet dans son discours inaugural, face à ses homologues colombien Juan Manuel Santos, péruvien Ollanta Humala et mexicain Enrique Peña Nieto.

Créée il y a cinq ans, l’Alliance du Pacifique représente actuellement 52% des échanges commerciaux et 36% du PIB de l’Amérique latine. Si l’on considère leur production totale, les quatre nations constitueraient la sixième économie du monde.

L’Alliance du Pacifique est l’une des intégrations régionales les plus importantes, remarquables et ambitieuses aujourd’hui, a souligné Enrique Peña Nieto.

Il ne s’agit pas seulement de libéraliser le commerce entre les pays membres, mais aussi (de promouvoir) la libre mobilité des personnes, des biens et des capitaux, a-t-il ajouté.

Le sommet a été précédé d’une rencontre jeudi d’une centaine d’hommes d’affaires de la région, à laquelle a assisté le nouveau président argentin de centre droit, Mauricio Macri, marquant ainsi un virage dans la politique extérieure du pays.

Parmi les pistes envisagées par l’Alliance pour se renforcer figure une éventuelle union avec le Mercosur (marché commun sud-américain) qui regroupe l’Uruguay, le Paraguay, l’Argentine, le Venezuela et le Brésil.

Elle étudie aussi un rapprochement avec l’Association des nations du Sud-Est asiatique (Asean), qui regroupe dix pays.

L’Alliance du Pacifique est un projet régional mais nous avons une vocation globale, a souligné Mme Bachelet.

Les pays membres se sont engagés à améliorer l’accès au financement pour les petites et moyennes entreprises mais aussi à créer un fonds pour contribuer au développement de projets d’investissement en infrastructures dans la région, un secteur qui doit encore s’améliorer pour renforcer le commerce intra-régional.

Je crois que nous pouvons y arriver très rapidement, a estimé le président colombien.

(©AFP / 01 juillet 2016 22h37)

Pacific Alliance to grow 3.1% and 4.5% in 2017-18

Lima, Feb. 13. (Andina) The economic bloc comprising Chile, Colombia, Mexico and Peru or Pacific Alliance is expected to grow 3.1% and 4.5% in 2017 and 2018, respectively, while imports are set to expand 5.9% and 6.1% in each case in line with state members’ growth, the Lima Chamber of Commerce (CCL) informed.

Imports from the Pacific Alliance member countries totaled US$553 billion last year, which was an 8.9% fall.
Nevertheless, a recovery process will be initiated this year with growth rates set to remain positive through 2018.
“A 1% increase is expected this year, taking into account there has been no drastic depreciation of the sol against the dollar,” CCL Executive Director Cesar Peñaranda pointed out.
Imports from Mexico, Chile, Colombia and Peru reached to US$402 billion, US$59 billion, US$52 billion and US$39 billion, respectively.
Imports will rise 5.9% and 6.1% in 2017 and 2018, respectively, keeping pace with the growth of state members, which is estimated to be 3.1% and 4.5%.
“There are two factors that explain this evolution: the slow recovery of the economic activity and the depreciation rate of currencies against the dollar, which raises the price of external purchases,” Peñaranda explained.
The global economic downturn started in 2012 and has become more marked in the last two years.
(END) SDD/JJN/RMB
Published: 2/13/2016

Pacific Alliance raises interest among investors at WEF meeting in Davos

Lima, Jan. 23. (Andina) The regional integration initiative Pacific Alliance—PA composed of Mexico, Colombia, Chile and Peru, raised interest among investors and government officials from different countries attending the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, Peru Finance Minister Alonso Segura affirmed.

Segura and his PA counterparts agreed to develop a joint communication strategy at the global level in order to raise awareness of the benefits of investing and doing business with the bloc.

“It triggered huge expectation, particularly now, that the region’s largest economy, Brazil, is faciing a difficult situation; but investors notice the difference and pay attention to the Pacific Alliance brand,” he pointed out.

According to Segura, the bloc directly benefits its members by introducing an additional variable: scale and presence.

“We know how helpful the Pacific Alliance is to us, mainly because it is more powerful as a whole than each individual part on its own,” he told TV Peru.

(END) JCC/JCC/RMB
Published: 23/01/2016

IMF: Peru to show fastest economic growth among Pacific Alliance member states

Washington D.C., Jan. 22. (Andina) Peru will see the largest economic growth among countries that make up the Pacific Alliance (PA), regional bloc it has built with Chile, Colombia and Mexico, according to a report issued by the International Monetary Fund—IMF in Washington D.C., United States.

The document states that real gross domestic product (GDP) in Peru is projected to grow at a 3.3% rate, above that of Colombia (2.7%), Mexico (2.6%) and Chile (2.1%).

IMF also retained its GDP (gross domestic product) growth projection for Latin America and the Caribbean at -0.3% for the current year. The countries with the slowest growth rate will be Argentina (-1.0%), Brazil (-3.5%) and Venezuela (-8.0%).

The regional recession, however, masks the fact that most countries continue to grow modestly but surely.

“In particular, country specific developments are being determined by the interplay between external shocks and domestic fundamentals,” said Alejandro Werner, Director of the IMF Western Hemisphere Department.

He went on to add that countries with strong policy frameworks [such as Peru] have been adjusting to external shocks smoothly.

On the other hand, he continued, countries with weaker domestic fundamentals are experiencing significant downturns.

(END) JCC/RMB/MVB
Published: 22/01/2016