The Pacific Alliance

On Wednesday, Peru, Mexico, Colombia and Chile signed an accord making the Pacific Alliance to much profoundly incorporate their economies as well as make brand new trade connections with Asia-Pacific region.

Sebastian Pinera, the President of Chile, told that from the peaks of Paranal - in the most desiccate desert in the planet and under the most unclouded of skies, they have signed a deal bearing to Pacific Alliance.

He was addressing at a presidential summit which is near the Atacama desert’s giant telescope to start the new alliance, paid heed by Felipe Calderon of Mexico, Ollanta Humala of Peru, Juan Manuel Santos of Colombia and the Presidents of Panama and Costa Rica as well as other observers. The Latin American axis’ creation, along with a 215 million consumers as well as a blended gross domestic ware over 2 trillion dollar was proposed in Lima last year.

Host Pinera told that in a much little period, they have really succeeded in moving ahead rapidly and added that it would give rise to deep integration which will go beyond free trade as well as extend to Asia-Pacific region.

Calderon of Mexico told that the Pacific Alliance's economic potential is significant. Colombia termed it as the most important integration process in Latin America. He added that there are no inconsistencies or exception vis-a-vis other integration attempts. They are against no one but in favor of greater integration.

Santos was repeated by Humala who asserted that the brand new alliance doesn't appear to displace other groupings like Andean Community, or even Union of South American Nations.