Pacific Alliance could be an alternative to TPP

By Elliot Bullman

Economy Secretary Ildefonso Guajardo said that the integration of new countries into the alliance will help the integration of Latin America with the Asia Pacific zone.

The Pacific Alliance, an integration agreement between Chile, Colombia, Mexico and Peru, may be an alternative to the Trans-Pacific Agreement on Economic Cooperation (TPP), said Economy Secretary Ildefonso Guajardo.

pacific alliance tpp alternative

Guajardo also asserted that the integration of Australia, New Zealand, Singapore and Canada as 'Associated States' to the Pacific Alliance is a very clear message of the will to accelerate integration of Latin America with the Asia Pacific basin.

With the arrival of Donald Trump to the White House, the United States made the decision to leave the TPP.

Faced with this, President Enrique Peña Nieto, along with his counterparts Michelle Bachelet of Chile; Juan Manuel Santos of Colombia, and Pedro Pablo Kuczynski of Peru, promoted the creation of the figure of 'Associated States' within the framework of the Pacific Alliance, under which four countries will join in a couple of months: New Zealand, Australia, Canada and Singapore.

pacific alliance tpp alternative 3

With this agreement under his arm, President Peña Nieto will arrive in Hamburg next week at the G20 summit, where he will meet with the President of the United States, Donald Trump, in the framework of the renegotiations of the Free Trade Agreement of America (NAFTA), between Los Pinos, Ottawa and the White House.

"Clearly, we are going to participate in the rounds that are necessary to strengthen the negotiating capital of the TPP. But while this is happening, we are pragmatically moving forward with an initiative with a lot of potential and sending a clear message to the world of the Pacific Alliance, "added Guajardo.

According to the Secretary of Economy, "the Pacific Alliance may be an alternative to the TPP and the message is transcendent to negotiate free trade agreements, practically from the countries that are in the Pacific Alliance we are already pulling seven countries Of the 11 ".

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The countries that could also be integrated as 'Associated States' to the Pacific Alliance, which are part of TPP, are Malaysia, Brunei, Japan and Vietnam.

Guajardo anticipated that he will hold a meeting in Japan next week, with the aim of preserving the viability of the TPP.

"What is happening is that we can not keep frozen and we have to send clear definitions of free trade. We can not afford not to act immediately to continue expanding the area," he added.

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