Promotion agencies of the Pacific Alliance renew joint work commitment

From Pacific Alliance

A new commitment was secured with the signatures of the highest authorities of ProChile, ProColombia, ProMéxico and PromPerú, seeking to encourage the creation of joint spaces for international promotion, and in turn strengthen instruments for increasing intraregional trade, with emphasis on SMEs from all four countries.

As part of the XI Summit of the Pacific Alliance, which took place in the city of Puerto Varas, Chile, the highest authorities of the promotional agencies of the PA signed a new work commitment with the aim of further developing joint activities towards the international promotion of export supply, tourism and investments from Chile, Colombia, Mexico and Peru.

On behalf of ProChile, Roberto Paiva, its director, participated in the event; ProColombia was represented by its president, Felipe Jaramillo. As for ProMéxico, Director General Francisco González attended; and last but not least, for PromPerú attended its director of Export Promotion, Luis Torres.

This new commitment will seek to strengthen actions of joint promotion in third markets –of those defined as a priority for the Pacific Alliance– such as international fairs, promotion seminars and joint trade missions, among others, as well as to improve work in the joint Trade Offices that the PA currently has in Turkey and Morocco.

The second objective is to increase the intraregional trade that has high growth potential. To do so, we will continue with an intensive plan of action that includes the development of activities in the markets of the Alliance, such as the Entrepreneurship and Innovation Forum LAB4+, dissemination seminars of opportunities for entrepreneurs of the Pacific Alliance, meetings of leading Businesswomen, and a new round of the Business Matchmaking (Macrorrueda), like the one held in Santiago de Chile last June. All these actions will put special emphasis on strengthening work and opportunities for SMEs.

All four authorities agreed that the coming into force of the PA Trade Protocol will be an incentive to increase the exchange figures between Chile, Colombia, Mexico and Peru.

In addition, Peru took stock of the promotional activities undertaken during its pro tempore presidency: 12 seminars of opportunities for trade and investment, joint participation in 5 international fairs in the agribusiness sector, two LAB4+, the first forum of leading Businesswomen, innovative promotional activities in various markets such as the PA Flavors Festival in Milan and specialized studies in various productive sectors, among others.

IV Business Matchmaking

This gathering provided the opportunity to analyze the figures left by the latest version of this business meeting for Food and Manufacturing companies, held on 22 and 23 June.

At this event more than 600 entrepreneurs gathered, among exporters from the four member countries and buyers not only from the bloc, but also with guests from Asia, the US and from Brazil, Argentina, Uruguay and Paraguay –members of Mercosur–, the last three also being observers of the PA.

After two days of business meetings between buyers and exporters, and 2,734 appointments made, an amount of close to USD 200 million was projected. Immediate purchases reached USD 10 million (5% of the total), businesses from 1 to 3 months were estimated at USD 107 million, from 3 to 6 months at USD 50 million, and beyond 6 months at USD 25 million.

At the sectorial level, the Food and Beverage sector led the results in transactions with a total amount of USD 172 million and 1,414 business meetings performed, representing 90% of total business.

As for Manufacturing, through 747 effective business meetings, a projected amount of USD 20 million was reached. In immediate purchases alone, transactions for USD 1 million were performed.

ProChile director, Roberto Paiva, expressed his satisfaction with the results obtained in this first version of a PA Matchmaking held in Chile, which since July 1 holds the pro tempore presidency of the bloc. “It has been a very successful business journey, not only for Chile, but for the entire Pacific Alliance. The entrepreneurs of the four countries who came to Santiago showed a varied and attractive offer with high potential for internationalization, which has been proven by the numbers produced by this last round. The work of the entrepreneurs in those two days confirms that our countries must continue to work together.”

“Every meeting made by the Pacific Alliance ratifies its potential as an economic force. This particular matchmaking event had two positive results to be noted: it provided new opportunities for intraregional trade and promoted business synergies, productive ties that are increasing our potential as a bloc in the Asian market,” said Felipe Jaramillo, president of ProColombia.

For the Director General of ProMéxico, Francisco Gonzalez, the initiative points in the right direction. “It is certainly a practice that must continue and keep moving forward. While this year we had a smaller number of participating companies, the results were stronger. We are happy, but not entirely satisfied, we must continue to grow.”

The director of Export Promotion of PromPerú, Luis Torres, stressed the success that Peruvian entrepreneurs had in this round of the Business Matchmaking stating that this year “the Pacific Alliance was consolidated as a business platform.”

On a breakdown by country, Chile reached business projections for USD 104 million. The distribution of its buyers was led by the US with 41% of the total, followed by Mexico and Colombia, with 32% and 19% respectively.

Colombian exporters scored business for USD 51 million. Their sales were also led by US buyers, with 65% of the total. Agreements with importers from Peru, for 13% and Chile, for 9% followed in importance.

Business deals made by the attending Mexican exporters amounted to USD 11 million. 32% of their total business was made with their counterparts from Colombia, 22% with the US and 20% with Chile. In total they reached 165 meetings of potential business.

In the case of Peruvian exporters, amounts reached USD 25 million. The United States was the star of their purchases, with 43% of the total, followed by Chile (24%) and Mexico (15%).

The heads of the promotion agencies confirmed the fifth round of the Macrorrueda for 2017, and Colombia will be the host country.