Executive Summary

The Pacific Alliance (PA), a Latin American trade bloc that aims to facilitate economic and social development, regional integration and engagement with other multilateral trade initiatives, was established in April 2011.

The current members of the Alliance are the “Pacific Pumas” of Latin America – Chile, Colombia, Mexico and Peru.1 Known for their fast growth rates, solid macroeconomic fundamentals, good governance and liberal attitudes towards trade, they represent a combined population of 221 million and a GDP of $2.1 trillion, the bloc accounts for approximately 5.39% of global trade. Significantly, the Alliance is responsible for 50% of trade in Latin America and the Caribbean, and attracts 45% of the region’s Foreign Direct Investment.2

The PA has so far attracted over 30 observer countries, with Costa Rica set to join the Alliance. Costa Rica’s accession will mark a major step toward the consolidation of regional economic integration and a boost in the development of the member countries, as well as a promising trajectory into the Central American region, with potent trade implications involving the countries of the Asian Pacific.3

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