The Pacific Alliance (Alianza del Pacífico) is a regional integration initiative launched by the Lima Declaration of 28 April 2011 and formally constituted by the Framework Agreement signed in Paranal, Chile, on 6 June 2012. Its four full members are Chile, Colombia, Mexico, and Peru — economies that together account for a substantial share of Latin American GDP and trade with the Asia-Pacific.
The bloc's stated objectives are to build an area of deep integration that progressively allows the free circulation of goods, services, capital, and persons; to drive growth and competitiveness; and to serve as a platform for political articulation and commercial projection, particularly toward the Asia-Pacific region. A central instrument is the Additional Protocol to the Framework Agreement, which entered into force on 1 May 2016 and eliminated tariffs on roughly 92% of goods traded among the members, with the remainder phased out over time.
Key institutional features include rotating annual presidencies, presidential summits, a Council of Ministers (foreign affairs and trade), and technical groups covering areas such as services, investment, SMEs, education, and regulatory cooperation. The members also operate the MILA (Mercado Integrado Latinoamericano), an integrated stock market linking the Santiago, Lima, Bogotá, and later Mexican exchanges.
The Alliance maintains a wide network of Observer States — more than 60 — and created the category of Associated State to negotiate high-standard trade agreements with external partners. Singapore signed an Associated State agreement in 2022; negotiations with candidates including Australia, New Zealand, Canada, Ecuador, and South Korea have advanced at varying speeds.
Compared with Mercosur, the Pacific Alliance is generally characterized as more market-oriented and outward-looking, emphasizing open regionalism rather than a customs union. Political frictions — notably a 2022–2023 dispute over the transfer of the pro tempore presidency from Mexico to Peru following the removal of President Pedro Castillo — have at times slowed its agenda.
Example
In January 2022, Singapore signed the Pacific Alliance–Singapore Free Trade Agreement (PASFTA), becoming the bloc's first Associated State.
Frequently asked questions
The four full members are Chile, Colombia, Mexico, and Peru. Costa Rica has been in an accession process, and the bloc has dozens of Observer States plus Associated States such as Singapore.
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