Pacific Alliance to Combat Protectionism and Global Warming

RIO DE JANEIRO, BRAZIL – The trading bloc made up of Chile, Colombia, Mexico, and Peru ends its two-day annual meeting as it sails through stormy weather caused by the trade war between the United States and China, which does not prevent it from going beyond the economic plan and incorporating environmental issues into its agenda.

“We can no longer think about the future if we do not take into account the effect of climate change,” said the host, Martín Vizcarra.

The presidents of Colombia, Iván Duque, and Chile, Sebastián Piñera, also called for environmental protection during the entrepreneurial debate, mediated by the president of the Inter-American Development Bank, Luis Alberto Moreno.

The presidents held working meetings yesterday, July 6th, and signed three declarations, including one that calls for the World Trade Organization (WTO) to be reinforced.

The leaders will also release a statement on “sustainable management of plastics” to protect the environment.

Despite the difficulties, the four members redoubled their commitment to the Alliance, whose countries have a combined population of 225 million and represent 38 percent of Latin America’s GDP.

Created in 2011, the Pacific Alliance represents half of Latin America’s trade and is the best performing regional bloc, according to analysts.

The presidents also seek to boost trade between their countries, which is currently performing modestly, although the bloc is the eighth largest exporter in the world.

Mexico’s president Andrés Manuel López Obrador, who decided not to travel abroad in his first year in office, was the main absentee from the meeting, but he was represented by chancellor Marcelo Ebrard.

The Alliance countries are cruising stormy waters due to the protectionist policies of U.S. president Donald Trump and his trade war with China.

The Asian giant is both Chile’s and Peru’s leading trading partner, and the dispute between the world’s two largest economies has reduced their exports and growth forecasts.

During the summit, cooperation agreements were signed, including one on TV co-productions between the four countries’ public networks.

Source: AFP

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