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Pacific Alliance, Associate Members Advance Trade Talks, Eye New Economic Opportunities

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The second round of the Pacific Alliance’s negotiations with its potential “associate members” wrapped up on Friday 2 February in Gold Coast, Australia, with officials from the countries involved reporting steady advances in the talks across various subject areas. The talks brought together officials from Australia, Canada, New Zealand, and Singapore with the Pacific Alliance coalition made up of four Latin American countries – Chile, Colombia, Mexico, and Peru. The process of negotiating this “associate member” relationship began last year. The goal of last week’s talks, officials confirmed, was to help pave the way for the future exchange of market access offers and advance discussions on future rules. The accord, if reached, would aim to go beyond existing arrangements, open up new market opportunities, and significantly deepen regional relationships. Ministers from both current Pacific Alliance countries and prospective associate members highlighted the good pace of the negotiations so far, as well as the economic and strategic value that could come from solidifying this partnership. “This negotiation process will allow the bloc to advance towards the fulfilment of one of its fundamental objectives: to become a platform for economic and commercial integration in the Asia-Pacific region,” said Chilean official Pablo Urria...

Tags: Pacific Alliance, Pacific Alliance, Regional Trade Agreements (RTAs)

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