Markets in Latin America
ongresso specialises in the states of the Pacific Alliance, the new growth engine of Latin America. The Pacific Alliance is a Latin American free trade zone with the aim of achieving harmonic and free movement of products, services, people and capital. It was founded in 2011 by Mexico, Colombia, Peru and Chile. Costa Rica joined in 2013 as the fifth member of the alliance. The Pacific Alliance comprises approximately 40% of the GDP of Latin America and its members’ export values amount to 450 billon US$ annually, 60% more than Mercosur.
The members of the alliance stand out due to their dynamism, economic growth and stability. In its annual “Doing Business” report, the World Bank lists Peru, Chile, Colombia as Latin American leaders when it comes to an investment friendly environment: of the 185 economies included in the study, Chile features in 37th, Peru in 43rd and Colombia in 45th place, far ahead of Brazil’s 130th ranking.