Six Latin American leaders and a president-elect will be participating in the two day Pacific Alliance business forum and presidential summit hosted by Chile and beginning on Thursday.
Canada became the first observer country to enter into a strategic partnership with the Pacific Alliance. Chrystia Freeland, minister of International trade and ministers of the four countries of the alliance—Chile, Colombia, Mexico and Peru—signed a joint declaration today in Mexico City.
Argentine president Mauricio Macri said Mercosur needs a greater integration dynamics and defended the idea that the Atlantic regional block country members work to reach agreements with countries of the Pacific Alliance.
The Alliance of the Pacific approved Argentina's request to join the group as an observer country, signaling a new turn in president Mauricio Macri's foreign policy. The announcement was made by Chile's foreign minister Heraldo Munoz following the Alliance's Ministers Council in Mexico City in anticipation of the summit scheduled for July first.
Argentine foreign minister Susana Malcorra said she plans to meet with British officials to address a multiple agenda and a pending issue, in the framework of a transparency meeting scheduled to take place in London.
The Pacific Alliance Additional Protocol becomes effective next May first, which means 90% of trade between Chile, Peru, Colombia and Mexico will be free of tariffs, while the remaining will be subject to gradual tariff liberation chronogram, according to Andres Rebolledo, head of Chile's International Economic Relations Department, Direcon.
Pacific Alliance members' commitment to maintaining solid and orderly public finances, in a changing global economic environment is crucial to continue to attract investments, said Chile's Finance minister Rodrigo Valdes currently in New York with his peers from Peru, Colombia and Mexico, to promote the region.
Argentine president Mauricio Macri pledged full support for Mercosur which he defined as a 'long term strategic project', called for a quick trade agreement with the European Union and closer ties with 'our partners from the Pacific Alliance'.
Chilean president Michelle Bachelet called for a convergence among governments of South America despite the political and ideological differences, and anticipated that Chile will strongly promote the rapprochement between Mercosur and the Pacific Alliance.
Paraguay foreign minister Eladio Loizaga advanced some of the issues that will addressed on Monday's Mercosur presidential summit, when all of the members of the group's heads of state have confirmed their attendance, except Venezuela's Nicolas Maduro, plus leaders from associate members.