...The Pacific Alliance, as the group calls itself, is “the most exciting thing going on in Latin America today”, according to Felipe Larraín, Chile’s finance minister. Some outsiders think so, too. Costa Rica and Panama want to join; Canada’s prime minister, Stephen Harper, and his Spanish counterpart, Mariano Rajoy, have said they will attend the Cali meeting as observers...
The Pacific Alliance (Spanish: Alianza del Pacífico) is a Latin American bloc formally launched on 6 June 2012 in Chile's Paranal Observatory at the organization's fourth summit. It groups Chile, Colombia, Mexico and Peru. The four nations of the Pacific Alliance represent about 36% of Latin America GDP, and if counted as a single country they would be the ninth largest economy in the world. According to information from the World Trade Organization (WTO), the countries of the Pacific Alliance together exported about U.S.$ 445 billion in 2010, almost 60% more than Mercosur (the main economic bloc in Latin America) exported in the same year.




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