Road to export: The Pacific Alliance

There is a regional group in Latin America and the Caribbean of great economic dynamism, with an important export market and is situated in an interesting place to develop business: the Pacific Alliance.

The Pacific Alliance is a trade bloc created in April 2011 and is integrated by four countries: Chile, Colombia, Mexico and Peru. According to the founding document of the group, the intention of the alliance is to "encourage regional integration, as well as further growth, development and competitiveness in the economies of their countries." They also pledged to "gradually move toward the goal of achieving the free movement of goods, services, capital and persons." 

The four nations of the Pacific Alliance meet 35.8% of the population of Latin America and the Caribbean and produce 35.5% of the Gross Domestic Products in Latin America. If they were viewed as one country, it would be the sixth largest economy in the world.

According to information from the World Trade Organization (WTO), the countries of the Pacific Alliance exported a combined $ 555 billion USD in 2012, 63.5% more than the exports of Mercosur. In the same year they received a net volume of foreign investments worth $ 30 billion USD.

The Alliance just eliminated the duties for 92% of trade among its members. The remaining 8% will undergo a staged elimination process which is expected to take around five years to complete.