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ECLAC views Pacific Alliance positively, says executive secretary

Xinhua, July 1, 2016 Adjust font size:

The United Nations Economic Commission for Latin America and the Caribbean (ECLAC) views the Pacific Alliance "positively," ECLAC's Executive Secretary Alicia Barcena said here Thursday.

The ECLAC representative told Xinhua, during the Alliance's 3rd Business Summit held in the city of Frutillar, southern Chile, that "the four Pacific Alliance member countries are very important in terms of their internal policies."

"They have made significant agreements in such a way that inter-regional trade has increased some points between the four countries (Chile, Colombia, Peru and Mexico) and training among the populations has also increased, which we call 'intangible capital,'" said Barcena.

The Pacific Alliance "has had big profits in this 'intangible capital,' as well as the exchange of people, increasing capabilities, eliminating visas and forming financial markets, through consolidating the Integrated Latin American Market (MILA)," the official said.

Barcena highlighted the regional bloc's progress in free trade and reducing tariffs as well as the widespread interest from regional partners.

"I feel that there are countries in our region that are very interested in being part of the Pacific Alliance. Up until now, there are over 40 observer countries in the Alliance," said Barcena.

The Mexican biologist noted that the presidents of Argentina and Costa Rica, Mauricio Macri and Luis Guillermo Solis, respectively, will attend the Alliance's 11th Presidential Summit on July 1 in Puerto Varas, southern Chile.

The four Pacific Alliance member countries account for seven percent of the world's fisheries exports and have suitable conditions to satisfy an important part of the growing global demand for these products.

Barcena said this could range from creating sectoral brands and an exportable fishing supply catalogue for the Alliance, up to establishing a joint organization entrusted with marketing fisheries products.

The Pacific Alliance is a regional integration process created on April 28, 2011. It brings together a population of 214 million people. The regional bloc's Framework Agreement came into force on July 20, 2015.

The four member nations have a gross domestic product (GDP) of 2.1 billion U.S. dollars which represents 37 percent of Latin America and they also account for 50 percent of Latin American trade with the world. Endit