On the 5th January the Chilean Senate approved the Commercial Protocol of the Pacific Alliance fulfilling the last internal procedure towards the formal ratification.
At this stage all members Chile, Colombia, Mexico and Peru, finished their internal procedures, pending only the formal notification.
As mentioned in the last post, hopefully the Protocol can enter into force in the early days of March, after almost two years of its official signature by the presidents on the 10th February 2014. Following ratification the biggest task will be the implementation of a series of provisions within the protocol on technical and trade related aspects. The implementation of many of its provisions will require a strong agenda followed by enough political commitment, since their drafting corresponds to best endeavors by the members that could easily be overshadowed by priorities of national government agendas.
Photo credit: BruceW