Abstract:

This book delves into the Pacific Alliance from different perspectives, including the realms of foreign diplomacy, economy, politics and technological aspects, whilst analysing the opportunities that may occur during this process of regional integration. […]

In short, this book aims to present a deep and meticulous analysis of what the Pacific Alliance is so far. Beyond delving into an informed explanation of the process of regional integration, the book tries not only to offer a landscape of untapped opportunities that may potentially contribute to the success of the Pacific Alliance but also to make serious recommendations in areas that may present substantial challenges for the Pacific Alliance.

Edited book with 15 contributions from several authors

Resumen:
No disponible

Editors: Mario Torres Jarrín and Jonathan Violante Pica
Full document: 2016, Torres & Violante, Emerging Markets-The Pacific Alliance

Abstract:
Trade and investment have been the main drivers of economic development in Latin America and the Caribbean (LAC) and in the member countries of the Pacific Alliance (Chile, Colombia, Mexico and Peru) in particular, which are the focus of this study. The results of the trade policy reforms made by these four countries are impressive. Exports have increased considerably and a path toward diversification has been forged. Liberalization and foreign investment facilitation efforts also posted outstanding results. To better understand the member countries of the Pacific Alliance, it is necessary to examine their trade and foreign direct investment (FDI) openness, which contributed to average year-on-year growth of 6.3% in gross domestic product (GDP) over the last two-plus decades (1990-2013) compared to the rest of LAC, which posted an average of 5.3%. These aspects are analyzed in Section I.

Differentiating between the FTAs with regard to scope and depth depends, among other factors, on the inclusion of trade related disciplines. A comparative overview of the agreements is undertaken in Section II.

Trade liberalization is expanding between Korea and the Pacific Alliance countries. Progress has been facilitated by Chile´s FTA, which has been in place for the past decade, and by Peru’s FTA, which went into effect in 2011. Similar results can be expected when the Colombia-Korea FTA, signed in 2013, goes into effect. However, after a period of tariff liberalization, it is clear that future gains in bilateral relations are likely to be found in non-tariff-related areas. This is the domain that requires work. Aspects related to non-tariff barriers are covered in the comparative analysis of FTAs signed with Korea in Section II and discussed in the segment on Chile’s FTA with Korea.

Resumen:
No disponible

Editor: Rosario Santa Gadea
Full document: 2015, Santa Gadea, Analysis of Experiences in Trade and Investment between LAC and Korea- The Case of Member Countries of the Pacific Alliance

Abstract:
This research develops a method to attract foreign direct investment to Pacific Alliance countries. The aim is to identify, through statistical crosses, Latin-American companies with potential to invest in productive clusters in a region of the Pacific Alliance, and to turn it into a platform for transformation and distribution of goods that target other markets of the Pacific Alliance, taking advantage of the tariff benefits and competitive advantages of the region within the framework of that agreement. The analysis allowed the identification of six companies in Argentina, nine in Brazil and fourteen in Ecuador, with potential to invest in the region of Valle del Cauca in Colombia, in sectors such as processed foods, automotive, packaging and personal care, among others.

Resumen:
Esta investigación desarrolla un método para atraer inversión extranjera directa a países de la Alianzadel Pacífico; el objetivo es identificar, a través de cruces estadísticos, empresas latinoamericanas con potencial de invertir en clústeres productivos de una región de la Alianza del Pacífico, para convertirla en una plataforma de transformación y distribución de bienes con destino final en otros mercados de la Alianza del Pacífico, aprovechando los beneficios arancelarios y las ventajas competitivas de esa región en el marco de dicho acuerdo. El análisis permite identificar seis empresas en Argentina, nueve en Brasil y catorce en Ecuador, con potencial de invertir en la región del Valle del Cauca en Colombia, en sectores como alimentos procesados, automotor, empaques y cuidado personal, entre otros.

Author: José Roberto Concha and Oscar Alberto Gómez
Spanish Title: Análisis de atracción de inversión extranjera a países de la Alianza del Pacífico
Full document: 2016, Concha & Gómez, Análisis de Atracción de Inversión Extranjera a Países de la Alianza del Pacífico

Abstract:
The entry into force of the Additional Protocol of the Framework Agreement of the Pacific Alliance in May 2016 marked an important step towards the regional integration efforts of its four members: Chile, Colombia, Mexico and Peru. In addition to promoting trade and investment linkages among its members, a core objective of the Pacific Alliance —and what distinguishes it from other regional integration efforts in Latin America— is to serve as a platform for economic and commercial integration between Latin America and the Asia-Pacific. It is, therefore, of particular interest to evaluate current economic developments taking part in modern Latin America and their impact upon these integration efforts.

The data of bilateral flows of trade in goods at the product and sector level, together with the study of trade in services as well as foreign direct investment, reflect the strong links within the Pacific Alliance. It also reveals the potential to further increase its members’ participation in regional and global value chains.

The Additional Protocol will serve not only to eliminate tariffs for nearly 95% of intraregional imports but also to foster economic integration through cumulation of origin and trade facilitation.
The Pacific Alliance faces several challenges in the medium-term. First, it must successfully incorporate Costa Rica as a full member, the first accession since the Pacific Alliance was established.
Further, it must define how to fulfil one of its driving forces: to serve as a bridge between Asian and Latin American countries on both sides of the Pacific.

Authors: José Durán Lima and Daniel Cracau
Institutional author: Economic Commission for Latin America and the Caribbean (ECLAC)
Full document: 2016, Duran & Cracau, The Pacific Alliance and its economic impact on regional trade and investment