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The Pacific Alliance is Going Great Guns, but can it Maintain the Pace? By Lord Waverley
The Pacific Alliance trading bloc, which provides investment and a springboard into the rest of Latin America, accounts for 50 percent of the region’s trade. It looks set to rival the achievements and figures of the EU and East Asia, and has three main objectives: • To create an area of integration that moves progressively towards the free movement of goods, services, capital and people. It is not a customs union. Each country retains its own policy and views, but there is a clear convergence of these policies. • To promote greater growth, development and competitiveness among the alliance’s economies to achieve greater personal wellbeing, overcome socioeconomic inequality, and work towards social inclusion. • To become a platform for political articulation and economic and commercial integration, with an emphasis on the Asia-Pacific region.