LatAm's Pacific Alliance to tackle "new challenges" to trade

Sunday, 2019-07-07 12:21:58
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Colombian President Ivan Duque, Peruvian President Martin Vizcarra, Chilean President Sebastian Pinera and Mexican Foreign Minister Marcelo Ebrard (from R to L) attend the 14th summit of Latin American trade bloc the Pacific Alliance (AP) in Lima, Peru, July 6, 2019. (Photo: Xinhua)
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Latin American trade bloc the Pacific Alliance (AP) should prepare to tackle the "new challenges" posed to global trade, Chilean President Sebastian Pinera said in Lima on Saturday (July 6).

"Today's world ... is very different from the one we knew when the Pacific Alliance was created" in 2012, Pinera said at the bloc's 14th summit in Lima, referring to the rise of protectionist policies.

The bloc was formed by Colombia, Mexico, Peru and Chile to promote free trade and strengthen regional ties. It accounts for about 37 percent of Latin America's gross domestic product and 50 percent of the region's total trade.

"We have new problems: global warming, tariff war, aging population, but we also have new tools that we never had before" to spur trade, including the "technological revolution, the information society and digital society", Pinera said.

With Chile serving AP's rotating presidency, Pinera called on member states to "show the world the path and the leadership to make the opportunities stronger than the difficulties."

Peruvian President Martin Vizcarra echoed his remarks, saying "new global conditions provide the reasons and arguments to strengthen and relaunch the Pacific Alliance."

Pinera, Vizcarra and the head of state of Colombia, as well as the foreign ministers of Mexico and associate members agreed at the summit on a roadmap to guide the bloc's development through 2030, "with an eye to becoming more integrated, more global, more connected."

They also signed a declaration on the sustainable management of plastics as part of their commitment to the United Nations' Sustainable Development Goals.

Xinhua