Projects Pacific Alliance

1 projects

1.1 trade liberalization
1.2 mercado integrado latinoamericano
1.3 joint diplomatic missions

projects

in addition reducing trade barriers, pacific alliance has begun several other projects regional integration, including visa-free tourist travel, common stock exchange, , joint embassies in several countries.

trade liberalization

in may 2016, pacific alliance removed 92% of tariffs on goods traded between members. based on 2013 agreement, rest of tariffs removed 2020.

mercado integrado latinoamericano

the mercado integrado latinoamericano (mila) integrated stock markets of colombia (colombia stock exchange), chile (santiago stock exchange), , peru (lima stock exchange), , seen foundation alliance s economic integration. these 3 stock markets began integration in november 2010; made latin america s largest market according number of issuers, second market capitalization, , third turnover.

the mexican stock exchange began process of incorporation mila , full incorporation expected year 2014. mexican stock exchange took step of acquiring total of 3.79 million shares of lima stock exchange (bvl), equivalent 6.7% of shares of series of market. part of agreement strategic partnership in order develop joint business activities , development of stock markets of peru , mexico, , complete integration mila.

the mexican stock exchange met timeframe , announced first trade made part of mila on 2 december 2014. trade on miila $1,415 purchase of 200 shares in chilean retailer falabella, executed gbm mexico through gbm chile. entry of mexico mila, integrated stock market counts 780 issuers among 4 countries, making biggest market number of listed companies in latin america, , biggest in terms of market capitalization, according world federation of exchanges. joint capitalization of 4 bourses tops us$1.25 trillion, making larger us$1.22 trillion bm&f bovespa.

joint diplomatic missions

among more important agreements have been reached creation of joint diplomatic missions (embassies, consulates, etc.) provide citizens of pacific alliance member states needed diplomatic services. declaration of cali highlights importance of opening of embassy shared between chile, colombia, mexico , peru in ghana, agreement between chile , colombia share embassies in algeria , morocco , between colombia , peru share embassy in vietnam. declaration of cali encourages these countries move forward on these initiatives. in november 2014 mexico opened first trade office in africa; located in casablanca , shared other pacific alliance members.