Andina

Peru hosts Pacific Alliance High-Level Group Meeting

Photo: Ministry of Foreign Affairs of Peru

Photo: Ministry of Foreign Affairs of Peru

10:30 | Lima, Oct. 19.

Within the framework of the Pro-Tempore Presidency held by Peru, a new round of Pacific Alliance (PA) meetings was held in Lima.

The event began last Tuesday with the Meeting of National Coordinators.

It ended on Wednesday with the session of the High-Level Group (GAN for its acronym in Spanish), made up of deputy ministers of Foreign Affairs and Foreign Trade of Chile, Colombia, Mexico, and Peru.

In his welcoming words, Peruvian Deputy Foreign Affairs Minister Ignacio Higueras highlighted the parallel holding of the eighth edition of the Pacific Alliance Youth Meeting.

The diplomat invited the authorities present at the event to continue making progress on the bloc's joint work agenda.

The deputy ministers addressed important issues such as the status of the ratification of the Free-Trade Agreement between the Pacific Alliance and Singapore, as well as the expansion of Pacific Alliance membership.

Moreover, the dignitaries held a meeting with the Pacific Alliance Business Council (CEAP) —a strategic partner for public-private coordination— which presented a report on its actions with recommendations and requests for progress on economic integration and cooperation among bloc members.

The Inter-American Development Bank (IDB) was also present at this event to present a report on the technical-financial support it provides to the PA.

About the Pacific Alliance 

The Pacific Alliance has become the world's eighth-largest economy and the sixth exporting power, accounting for 42.9% of GDP in Latin America, as well as drawing 57.4% of foreign direct investment flows in the region, according to the Ministry of Foreign Trade and Tourism (Mincetur).

In 2022, trade between Peru and Pacific Alliance Member States reached a record US$8.418 billion.

Peruvian exports to the Pacific Alliance countries totaled US$3.875 billion, which accounted for 6% of the global total. 

The main exported products include avocados, grapes, palm oil, coffee, and paprika. Also worthy of note are minerals and chemical products, such as molybdenum, zinc, copper, sulfuric acid, plastics, and tires.

(END) NDP/MVB

Published: 10/19/2023