Pacific Alliance aims to expand to Asia Pacific



The economic trade bloc known as the Pacific Alliance wants to open its doors to new partners.

During the group's 12th Presidential Summit held on June 29 and 30, the participants made clear their interest in expanding trade to the Asia Pacific.

The Pacific Alliance trade group admitted four new associate members during the summit. The alliance is made up of Colombia, Chile, Mexico and Peru.

The four new associate members are Singapore, Australia, New Zealand and Canada.

The move would be the first step expanding the group's trade and investments reach.

Amid a US push for more protectionist measures, the Alliance members showed they are among the keenest proponents of free trade in the Americas.

The member states' foreign affairs and trade ministries expressed their interest in signing trade agreements with a new range of countries – specifically the Asia Pacific market – as the region expands its horizons.

During the Presidential Summit held in Cali, Colombia, 500 business representatives met to explore trade opportunities.

It is an exchange in information, technology, tourism and opportunities in infrastructure investment, among the topics explored.