The Pacific Alliance was created in Lima on April 28, 2011, upon the signature of the Lima Declaration. It is the result of the initiative of Peruvian President, Alan García Perez, who invited his counterparts from Chile, Colombia, México and Panamá, to strengthen the countries’ economies and define joint actions to boost trade links with Asia Pacific, supported on the bilateral trade agreements in force with the member states.

The purpose of this regional consensus and coordination forum is to become a strong integration forum in the Latin American Pacific Arch context that will encourage regional integration and greater growth, development and competitiveness. The Pacific Alliance has two mechanisms: the High Level Group (Comprised by the Vice Ministers of Foreign Affairs and Trade of the member states), and the different work groups (set up for each of the priority issues).

The Work groups must be set up following the signature of the Lima Declaration. Said work groups must cover matters such as the movement of businesspersons and facilitating migration-related transit, including police cooperation; trade and integration, including trade and customs cooperation; services and investment and the rapprochement strategy with Asia Pacific.

Trade-wise, the action identification process has already started in a few of the abovementioned areas.