The Pacific Alliance: A Mexican Perspective

Abstract

The Pacific Alliance was launched in 2011 as a new integration mechanism between four like-minded Latin American countries (Chile, Colombia, Mexico and Peru) that share many cultural and historical features, have similar visions on development and free trade, and agree on the goal of creating a cohesive platform that can enhance the competitiveness of the region. Through an open, inclusive and pragmatic integration approach, the four members are seeking to boost overall growth and promote free trade. In a very short period of time, the Pacific Alliance has developed well beyond the initial expectations and become one of the most successful integration efforts in Latin America. It is widely regarded as a realistic undertaking that has made rapid progress and delivered tangible benefits for the member countries, including measures to facilitate the free movement of people, trade and capital, as well as some very innovative ideas, such as the establishment of common missions abroad, enhanced multilateral cooperation, and integrated stock exchanges. From a wider perspective, the Pacific Alliance has served as an effective mechanism to encourage dialogue and cooperation with other regions. In the Pacific sphere, interregional relations have been established with ASEAN and with the Asia-Pacific Economic Cooperation forum (APEC). Also, 42 countries have been admitted as observer states, including three ASEAN members (Indonesia, Singapore and Thailand). This article makes an overview of the major features of the Alliance and underscores their relevance for the four members (especially Mexico) and their relation with other regions of the world.