At the 20th Annual Milken Institute Global Conference, the Ambassadors of Peru, Chile, Colombia and Mexico discussed in a panel how the four countries, founding members of the Pacific Alliance, are leading integration in Latin America.
The Global Conference convenes the best minds in the world to tackle the most stubborn challenges. That commitment to the power of ideas has set this event apart for two decades. It is a unique setting in which the individuals with the capital, power and influence to move the world forward meet face-to-face with those whose expertise and creativity are reinventing industry, philanthropy and media.
“For us, as a country interested in pursuing openness in trade and sound commercial policies with the most dynamic economies in the world, and as members of the Pacific Alliance, it was crucial being able to communicate our common strategies and interests with key players gathered on this conference”, said Ambassador of Peru, Carlos Pareja.
The panel was moderated by Julie T. Katzman, Executive Vice President and Chief Operating Officer, from the Inter-American Development Bank. The other panelists were Gerónimo Gutiérrez, Ambassador of Mexico to the US; Juan Carlos Pinzón, Ambassador of Colombia to the US; and Juan Gabriel Valdés, Ambassador of Chile to the United States.
The Pacific Alliance is an integrated, regional trading bloc made up of Chile, Colombia, Mexico and Peru. They share a population of 217 million with a combined average GDP per capita of $16,759 in purchasing power parity. The alliance provides opportunities for foreign investments as its members move toward the free movement of goods, services, resources and people.
“The sum of many factors like economic modernization, natural resource abundance and continued improvements in economic governance and political stability are helping Peru to emerge as one of the most stable and influential countries in Latin America,” said Pareja, during his presentation.
The four members of the Pacific Alliance negotiated a common free trade agreement, which entered into force on May 1, 2016, to regulate, among other issues, rules of origin, customs administration and trade facilitation, technical barriers to trade, government procurement, investment, intellectual property, sanitary a phytosanitary measures, labor, environment and transparency.
“The Pacific Alliance is an ambitious platform that also deals with the facilitation of free movement of people under a visa waiver program and an integrated migration system for the immediate exchange of information,” said Pareja.
The 20th Annual Milken Institute Global Conference was devoted to discussing “How to Build Meaningful Lives” and was organized by the Milken Institute, a non-profit, nonpartisan think tank determined to increase global prosperity by advancing collaborative solutions that widen access to capital, create jobs and improve health. The institute is based in Santa Monica, California.