ArmInfo.The board of the Eurasian Economic Commission (EEC) approved the draft Declaration of Partnership between the Commission and the Pacific Alliance.
According to the press service of the EEC, the EAEU is expanding contacts in the field of international cooperation. More than 50 states and integration associations are showing interest in developing trade and economic cooperation with the Union. Pacific Alliance- a dynamically developing union of four countries: Chile, Colombia, Mexico and Peru, founded in 2011.
The institutionalization of the dialogue with the alliance creates the basis for interaction between the two integration associations in exploring mutually beneficial areas of cooperation, including growth opportunities for the Union's exports to Latin America, exchange of experience in regional economic integration, trade facilitation, reduction of technical barriers to trade and others. In addition, the document will allow Mexico and Colombia to be included in the dialogue, with which ECE governments do not yet have systemic cooperation, unlike Chile and Peru, with whom bilateral memorandums of understanding have been signed.The trade between the countries of the EAEU and the Pacific Alliance has a steady positive trend. Despite the general decline in trade between the Union and third countries in 2014-2017, the volume of trade with alliance states has increased 2.8 times since 2010, which indicates a high potential for interaction.
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