The President of Costa Rica, Rodrigo Chaves, announced that Costa Rica will formally request Pacific Alliance members to begin negotiations for his country's incorporation into the trade bloc.
Costa Rica has held the status of a Candidate Observer State since 2012 and has closely followed the work of the association, which proposes a modern Latin American regional integration. The Pacific Alliance was established in 2011 and is formed by Chile, Colombia, Mexico and Peru, which together constitute the eighth economic power in the world.
In addition to its commercial dimension, the Pacific Alliance has different areas of work on innovative projects for building local creating capacities that allow greater use of trade and investment opportunities, especially with Asia.
“There is no doubt that one of the great pending issues in Latin America is to build a robust and modern regional integration scheme. In this sense, we understand that the Pacific Alliance is an innovative and powerful model of regional integration, capable of boosting the economy, generating jobs, increasing exports, encouraging the attraction of investment and fostering cooperation with four very important economies in Latin America,” said Minister of Foreign Trade, Manuel Tovar.
