Interview: Pacific Alliance achieves initial progress, says Colombia's minister

The Pacific Alliance has achieved initial progress in seeking regional integration, Colombia's Trade, Industry and Tourism Minister Maria Claudia Lacouture told Xinhua in an exclusive interview.

The minister has been participating in the preparatory meetings ahead of the Alliance's 11th Presidential Summit to be held in Chile on Friday.

Presidents of the member countries of Chile, Colombia, Mexico and Peru is scheduled to attend as well as delegates from the 49 observer countries.

"Mexico, Peru, Chile and Colombia are united in the Pacific Alliance," Lacouture said.

She said the alliance seeks to promote trade and integration, such as lifting visa requirements to promote the free movement of citizens between the four member nations.

According to Lacouture, the thing that attracts the attention of the Pacific Alliance's 49 observer countries is that "we have reached an agreement, on a strategy and on a work structure which will allow concrete steps to be outlined in order to continue progressing with economic growth."

Australia, China, New Zealand, Spain and other European nations are among the 49 observer countries. Argentina and Costa Rica have also expressed an interest in becoming members of the Alliance.

The Pacific Alliance seeks "to internationalize" the micro, small, and medium-sized companies in the four countries and facilitate trade in goods "because without this the work of governments can't progress."

Lacouture explained that the basic premise for the Pacific Alliance is freeing up the movement of people and trade in goods, services and capital.

On May 1, the elimination of tariffs on 92 percent of the basket of products marketed between the four countries came into operation

This means "an injection of productivity and competitiveness" for small and medium-sized enterprises (SMEs) which "allows the Pacific Alliance to be the place to see this growth specifically when it comes to continuing progress in building global value chains," said the minister.

"The agreement includes establishing a single template for trade and facilitating trade with new border regulations and we are working on improving infrastructure, which will generate more undertakings," said Lacouture.

The minister highlighted the support given to the Pacific Alliance by international financial organizations, such as the Inter-American Development Bank and the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), with the purpose of generating development, trade and best practices as well as exchanging information.

"This opens up more markets for our companies and all of this contributes to a better integration, which goes far beyond commercial operation," added the minister.

Lacouture also highlighted that her country focuses its work on "promoting non-traditional exports in potential markets, attracting direct foreign investment and positioning Colombia as a world-class tourist destination." Endit