Mercosur, Pacific Alliance promote integration

(VOVworld) – Ministers of Foreign, Trade, and Production Ministries of the Southern Common Market (Mecosur) and the Pacific Alliance had a meeting on Saturday to discuss possibilities to enhance cooperation and integration between the two blocs and in the Latin America region. 
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During the 12th World Economic Forum in Buenos Aires, Argentina, representatives from both trade blocs proposed concrete steps of the integration roadmap to promote bilateral ties. A joint declaration by both blocs spoke of a multilateral trading system, and that new cooperation would take place on customs, trade promotion, helping small and medium enterprises, and identifying potential regional value chains.

Mercosur includes Argentina, Brazil, Paraguay, and Uruguay, whereas the Pacific Alliance includes Mexico, Chile, Colombia, and Peru.