A conference discussing opportunities and challenges in the PacificAlliance for western Pacific countries, including Vietnam, opened inHanoi on April 24.
According to Director of theInstitute of American Studies under the Vietnam Academy of SocialSciences, Cu Chi Loi, Latin America is a particularly dynamic regionthanks to its regional economic institutions, one of which is thePacific Alliance.
The alliance, which groups Chile,Colombia, Mexico and Peru, is said to be the world’s eighth largesteconomy and places seventh in terms of export value, he said.
According to Chilean Ambassador to Vietnam Fernando Urrutia, some ofthe alliance’s members are, together with Vietnam, activelyparticipating in the negotiations of the Trans Pacific Partnership(TPP).
Meanwhile, Mexican Ambassador to VietnamGilberto Limon Enriquez said the alliance acts as an effective tool ininternational integration and trade liberalisation in order to forge acloser link with the Asia-Pacific.
It also drivescooperation between its members on important issues, such as theenvironment, climate change, science-technology and social development,he added.
Established in 2012, the Pacific Allianceaims to build an area of deep integration and increase connection withAsia-Pacific countries.
The bloc also comprises of 30observers, including the US, Canada, Australia, Japan, China, theRepublic of Korea, the UK and France.
Heads of stateof the four founding members have signed a framework agreement toeliminate tariffs for more than 90 percent of goods traded between thebloc’s member countries.
With the signing of thedocument, the alliance has become a huge market with a population of 200million people, generating a GDP of over 2 trillion USD, which accountsfor 50 percent of the Latin America’s total export.-VNA
According to Director of theInstitute of American Studies under the Vietnam Academy of SocialSciences, Cu Chi Loi, Latin America is a particularly dynamic regionthanks to its regional economic institutions, one of which is thePacific Alliance.
The alliance, which groups Chile,Colombia, Mexico and Peru, is said to be the world’s eighth largesteconomy and places seventh in terms of export value, he said.
According to Chilean Ambassador to Vietnam Fernando Urrutia, some ofthe alliance’s members are, together with Vietnam, activelyparticipating in the negotiations of the Trans Pacific Partnership(TPP).
Meanwhile, Mexican Ambassador to VietnamGilberto Limon Enriquez said the alliance acts as an effective tool ininternational integration and trade liberalisation in order to forge acloser link with the Asia-Pacific.
It also drivescooperation between its members on important issues, such as theenvironment, climate change, science-technology and social development,he added.
Established in 2012, the Pacific Allianceaims to build an area of deep integration and increase connection withAsia-Pacific countries.
The bloc also comprises of 30observers, including the US, Canada, Australia, Japan, China, theRepublic of Korea, the UK and France.
Heads of stateof the four founding members have signed a framework agreement toeliminate tariffs for more than 90 percent of goods traded between thebloc’s member countries.
With the signing of thedocument, the alliance has become a huge market with a population of 200million people, generating a GDP of over 2 trillion USD, which accountsfor 50 percent of the Latin America’s total export.-VNA
