Chile will insist at the two-day Pacific Alliance summit which took off on Wednesday in Paracas, Peru, that a convergence with Mercosur is needed to ensure the integration of Latina America, and this is more evident now that both groupings face similar challenges such as falling prices for commodities, normalization of US monetary policy and an international context of slow growth.
Mercosur and the Pacific Alliance are not contradictory competing blocks, and can advance towards a mutually beneficial convergence, said Chile's Economy minister Luis Felipe Cespedes during a trade and investment promotion seminar in Brazil.