- The regional integration organization, which brings together more than 230 million people, has played a crucial role in bringing the region closer to Asia-Pacific.
- With an annual GDP of USD $2,354,795 million, it represents more than 42% of Latin America's gross domestic product.
As of this year, Chile holds the pro tempore presidency of the Pacific Alliance (PA), an economic and cooperation bloc created in 2011, whose members include Chile, Colombia, Mexico and Peru.
In formalizing this responsibility, Chilean Foreign Minister Alberto van Klaveren stated that "Chile is committed to making the Pacific Alliance an effective and ambitious mechanism for political dialogue, growth and integration for and from Latin America".
"Our country seeks to update and improve the work of the alliance, building on the progress made in the last period. Our work must contemplate a sustainable, inclusive and productive approach that takes into consideration the environment, indigenous peoples, micro, small and medium-sized enterprises, investments and global value chains," he added.
He stressed that the objectives of the PA are to strengthen the free circulation of goods, services, resources and people, as well as to enhance the economic growth and competitiveness of member economies vis-à-vis the rest of the world.
Among some of the highlights of this association is the signing of the free trade agreement with Singapore in January 2022, which, once it enters into force, will make the Asian country the bloc's first associate state. With an annual GDP of USD $2,354,795 million, in 2023 the PA represented 42% of Latin America's gross domestic product.
The Pacific Alliance brings together a population of 231.5 million people by 2024, has 63 observer states and five countries interested in becoming associate states (Singapore, Australia, New Zealand, Canada and South Korea), three to become full members (Costa Rica, Ecuador and Honduras).
Chile and its projection with Asia
With a wide network of trade agreements -to date totaling 33-, Chile has the most powerful network of Free Trade Agreements (FTAs) in the world, reaching 65 economies, representing 64% of the world's population and 88% of global GDP. In addition to the above, it has built a strong relationship with Asia, a market that in 2023 received more than 58% of our exports .
Chile is also one of the four Latin American members of the Organization for Economic Cooperation and Development (OECD) since 2010, with a resilient economy recognized in Latin America and worldwide.
Our country has played a crucial role in the consolidation and expansion of the Pacific Alliance, not only as a founding member, but also as a promoter of various integration initiatives at the regional level and with the Asia-Pacific region.
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