Published On: Mon, Feb 10th, 2014

Pacific Alliance will boost economy and employment: Santos

Alianza Pacifico

Colombian President Juan Manuel Santos emphasized on Sunday the wealth of opportunities that will be brought about by the eighth summit of the Pacific Alliance – the trade bloc composed of South American nations Colombia, Chile, Mexico and Peru – which will mean “more employment for the regular citizen, [and] more economic growth.” 

The day before Colombia’s historical coastal city of Cartagena welcomes the eighth Pacific Alliance summit, the Colombian head of state clarified that he and President Enrique Neña Nieto of Mexico, Sebastian Piñera of Chile and Ollanta Humala of Peru will be studying a variety of proposals, including one to create a fund financing infrastructure in the four member states and which may eventually be supported by other countries willing to invest — such as China, Arabic states and Singapore.

MORE: Delegates arrive in Cartagena for start of Pacific Alliance trade summit 

In what President Santos called a “process of collaboration that goes much further than the commercial aspect,” a further initiative will also look to regularize the price control system for medicine, which Santos affirms is overly expensive in the Alliance’s member states.

One of the key aspects of the summit will also be the freeing up of tariffs on 92% of commercial trade between the four countries, while the remaining 8% will also see taxes steadily removed over time.

MORE: Pacific Alliance to approve 92% tariff relief

“As these economies strengthen in unity we will be able to compete much better with the rest of the world,” Santos stated.

More than just a Free Trade Agreement, the Colombian president assured the public that the summit would facilitate the free movement of both people and capital. As an example, the head of state highlighted how Mexico’s decision to remove visa requirements for Colombians entering the country coincided with a 35% rise in tourism.

Santos declared that “there are always winners and losers,” but “Colombia will have many more winners than losers.”

“For these losers, as usual, we will try and make the costs as small as possible.”

MORE: Prominent Colombian senator calls Pacific Alliance trade pact ‘treason

Sources

The post Pacific Alliance will boost economy and employment: Santos appeared first on Colombia News | Colombia Reports.


For website development, online marketing and promotion,
check out The Q Media


If you enjoyed this piece, please SHARE IT so other readers can find it and enjoy it.

Recent Posts

TCO bottom

April 29, 2016, Comments Off on TCO bottom

TCO Bottom2

April 29, 2016, Comments Off on TCO Bottom2

TCO Sidebar

April 29, 2016, Comments Off on TCO Sidebar

Outbreaks of Zika in Colombia declining

April 25, 2016, Comments Off on Outbreaks of Zika in Colombia declining

Star witness in $68M embezzlement scam murdered outside of Medellin

April 23, 2016, Comments Off on Star witness in $68M embezzlement scam murdered outside of Medellin

Colombia’s senate seeks allowed organ donation by default

April 22, 2016, Comments Off on Colombia’s senate seeks allowed organ donation by default

Oil production in Colombia down 4% in March

April 22, 2016, Comments Off on Oil production in Colombia down 4% in March
Augusto_Ilian_Rio_Cali_Cali

Cali, Selected As One of 100 Most Resilient Cities

April 22, 2016, Comments Off on Cali, Selected As One of 100 Most Resilient Cities

Colombia’s peso on the rebound following surge in global oil prices

April 21, 2016, Comments Off on Colombia’s peso on the rebound following surge in global oil prices

Health offices bombed in Colombia’s capital Bogota

April 21, 2016, Comments Off on Health offices bombed in Colombia’s capital Bogota

Not bullies, but politicians are stealing Colombia’s school children’s lunch money

April 21, 2016, Comments Off on Not bullies, but politicians are stealing Colombia’s school children’s lunch money
Party in Colombia