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ASEAN and Pacific Alliance strengthen ties while Thailand joins the Alliance as Observer State

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ASEAN_Pacific

At the Tenth Summit of the Pacific Alliance, held on 1 – 3 July 2015, Thailand along with nine other countries including Denmark were accepted as Observer States of the grouping signaling the Alliance’s commitment to continue strengthening cooperation with these countries.

Four years after its creation, on April 28th 2011, the Pacific Alliance is a solid regional integration mechanism constituted by countries with remarkable economic performance in Latin America, namely, Chile, Colombia, Mexico and Peru.  Together the grouping represents the world’s eighth largest economy with a market of around 214 million people and an average GDP per capita of 16,500 dollars (in terms of purchasing power parity).

The Alliance and ASEAN are also seeking to build closer ties.  A meeting of the two regional organizations was held on 25 May 2015 at the ASEAN Secretariat in Jakarta, Indonesia.  The two sides recognized the potential benefit of forging economic cooperation to facilitate trade and investment flows between their respective regions as well as cultivating closer people-to-people ties through collaboration in areas such as education, culture and tourism.  Both sides also agreed to explore cooperation in areas such as agriculture, logistics, innovation and energy.

 

Sources:

http://alianzapacifico.net/en/presidents-of-the-pacific-alliance-signed-the-declaration-of-paracas-in-the-framework-of-the-tenth-summit-of-this-mechanism/

http://www.asean.org/news/asean-secretariat-news/item/asean-pacific-alliance-to-explore-potential-areas-of-cooperation

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