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Thu, 13 Feb, 2014 12:42:01 AM FTimes Report, February 13  File Photo - Lehtikuva. The VIII Summit of the Pacific Alliance on Monday granted Finland's application to become an Observer State of the Pacific Alliance (Alianza del Pacífico), said a press release of the foreign affairs ministry on Wednesday.
The summit was held in Cartagena in Colombia.
The Pacific Alliance is an economic region based on free trade formed by Chile, Colombia, Mexico and Peru in 2011. The Member States of the Alliance endeavour through dynamic efforts to harmonize and promote free trade especially in the Pacific region.
Cooperation is built on the basis of Member States' existing free trade arrangements. The region, with its favourable operating environment for business and attractive geographic location, offers opportunities also for Finnish enterprises.
As an Observer State, Finland can take part in the organization's events and receive information on the region's development more directly.
The economies of the founding countries are stable, with an average economic growth rate of 4.3 per cent, and the countries have a broad population with purchasing power.
There are currently 30 Observer States. In addition to Finland, India, Singapore, Morocco and Israel have been given the Observer Status of the organisation.
The old Observer States are, among others, the United States, Canada, Australia, China and seven EU member states (Spain, Portugal, France, Italy, Germany, the Netherlands and the United Kingdom).
Costa Rica and Panama are close to get the full membership of the organisation.
European Affairs and Foreign Trade Minister Alexander Stubb visited Colombia and Mexico together with a business delegation in spring 2013.
The visit confirmed that the Latin American countries with stable economic growth offer good trading opportunities for Finnish enterprises.
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| Wednesday, 24 April, 2024 |
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