The Pacific Alliance, composed of Chile, Colombia, Mexico and Peru, advances faster than any other integration bloc, the National Director of Foresight and Strategic Studies at Peru's National Center for Strategic Planning Fredy Vargas affirmed.
In this sense, he considered necessary for the bloc-belonging countries to develop regional value-chains with the aim of "boosting significantly" domestic trade among Member States in the medium-term.
"This group advances at an unexpected rate, faster than any other regional integration bloc, whether in Latin America or other areas in the world. Therefore, we feel very optimistic about its development in the next years," he told.
Additionally, Vargas said it was important to develop regional value-chains, so each country is able to produce intermediate products to be later turned into an end-product and, therefore, exported.
"The businesses that emerge from several sectors are numerous, and these comprise integrating small and micro enterprises with medium and large ones," he added.