International Business Essay
The Pacific Alliance
The Pacific Alliance – Deep integration for prosperity
The Pacific Alliance is a mechanism for regional integration formed by Chile, Colombia, Mexico and Peru, in April 2011. It acquired legal and formal existence on 6 June 2012, with the signature of the Framework Agreement. The process seeks to create attractive markets among its member countries and enhance their competitiveness in the wider world.
T h e Pa c i f i c A l l i a n c e
Mexico Colombia Peru Chile
United Kingdom Netherlands Germany France Switzerland Italy
Canada Turkey People's Republic of China Japan Republic of Korea United States of America Honduras Guatemala El Salvador Dominican Republic Costa Rica …show more content…
The ranking represents scores for ten issues related to the ease of doing business. The higher the ranking, the more favourable the business environment.
The Gross Domestic Product (GDP) of the Pacific Alliance countries represents 36% of the GDP of Latin America and the Caribbean. Average growth was 5% in 2012, compared to a world level of 3%. The four countries in the Alliance enjoy strong economic stability.
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The average rate of unemployment in Alliance countries is 7% . The principal exports of the Alliance countries are fuels and minerals, agricultural products and manufactured goods. Their offer thus complements that of the Asia Pacific markets. In 2012 the Alliance countries represented 41% of total foreign investment flows in Latin America and the Caribbean. Intra-regional trade between the Alliance countries represents 4% of their total foreign trade, with a strong growth potential. The Alliance countries represented 50% of Latin America´s foreign trade in 2012, with a growth of 4% in exports and 4% in imports compared to 2011.
Source: IMF, WB and WTO