Pacific-Alliance - Background and additional links

This page serves as a toolkit for Canadians interested in learning more about ongoing engagement between the Pacific Alliance and Canada.

Background

The Pacific Alliance is a regional integration initiative created in 2011 by Chile, Colombia, Mexico and Peru that seeks the free movement of goods, services, capital and people. The purpose of the Alliance is to promote greater competitiveness and economic growth for member countries, as well as to expand economic relations with the Asia-Pacific region.

On June 29, 2017, at its Council of Ministers meeting attended by the Honourable François-Philippe Champagne, Minister of International Trade, the Pacific Alliance invited certain observer states (Canada, Australia, New Zealand, and Singapore), to become Associate Members. While Canada has comprehensive and ambitious free trade agreements (FTAs) with all four Alliance members, Associate Membership would involve a new FTA with the Alliance as a bloc.

Canada also has an important presence in these countries with $49.6 billion of Canadian direct investment abroad (CDIA) in 2016 (approximately 19 percent of the total CDIA in Latin American countries). Canada’s total merchandise trade with the Pacific Alliance member countries reached a value of $48 billion in 2016. The four countries of the Alliance account for more than 75 percent of Canada’s two-way trade with the whole Latin American region.

Related links

Additional information on Canada’s relationship with the Pacific Alliance countries:

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