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41-543: The Pacific Alliance (Spanish: Alianza del Pacífico ) is a Latin American trade bloc , formed by Chile , Colombia , Mexico and Peru , which all border the Pacific Ocean . The alliance was formed with the express purpose of improving regional integration and moving toward complete freedom in the movement of goods, services, capital and people between the four member states. Together, these four countries have

82-530: A pan-ethnicity consisting of people of different ethnic and national backgrounds. As a result, some Latin Americans do not take their nationality as an ethnicity , but identify themselves with a combination of their nationality , ethnicity and their ancestral origins. In addition to the indigenous population, Latin Americans include people with Old World ancestors who arrived since 1492. Latin America has

123-551: A combined population of more than 230 million people and make up roughly 35 percent of Latin American GDP. The following countries are full members, in the process of becoming full members or observers. On 28 April 2011, then president of Peru Alan García organized a meeting with the presidents of Chile, Colombia and Mexico at the time. This working group issued the Declaración de Lima , a statement of intent to establish

164-475: A few groups in the country's highlands. In Bolivia , Aymara , Quechua and Guaraní hold official status alongside Spanish. Guarani is, along with Spanish, an official language of Paraguay , and is spoken by a majority of the population (who are, for the most part, bilingual), and it is co-official with Spanish in the Argentine province of Corrientes . In Nicaragua , Spanish is the official language, but, on

205-522: A free-trade deal in March 2014. While fulfilling most of the criteria to enter in the alliance, the country has so far refused to commit itself to full membership. Paraguay , a founding member of Mercosur and observer of the Pacific Alliance, has begun pursuing free-trade deals with current members as a precursor to a possible membership application. Paraguay was suspended from Mercosur following

246-642: A majority; some are dominated by inhabitants of European ancestry; and some countries' populations are primarily mulatto . Black , Asian , and zambo (mixed black and native American) minorities are also identified regularly. White Latin Americans are the largest single group, accounting for more than one-third of the population. The Latinobarómetro surveys have asked respondents in 18 Latin American countries what race they considered themselves to belong to. The figures shown below are averages for 2007 through 2011. Don't know/No response. Weighted using 2011 population. Spanish and Portuguese are

287-455: A nation outside the alliance: Singapore . Singapore had been a candidate for associate member status of the Pacific Alliance since 2017. As of February 2023, ratification of the PASFTA is ongoing. The Mercado Integrado Latinoamericano (MILA) originally integrated the stock markets of Colombia ( Colombia Stock Exchange ), Chile ( Santiago Stock Exchange ), and Peru ( Lima Stock Exchange ), and

328-545: A possible future bid if integration advances in areas other than trade. Guatemala has expressed concrete interest in joining the Pacific Alliance and is pursuing trade deals with current members as a precursor to a possible membership application. Panama has expressed interest in joining the Alliance, and is an official observer-candidate according to the website. Panama has already signed trade deals with Colombia, Peru and Chile, and reached an agreement with Mexico to sign

369-459: A predominance of mixed indigenous and European descent or mestizo , population; in others, native Americans are a majority; some are mostly inhabited by people of European ancestry; others are primarily mulatto . The largest single group are white Latin Americans . Together with the people of part European ancestry, they combine for almost the totality of the population. Latin Americans and their descendants can be found almost everywhere in

410-507: A protocol at a plenary session finalizing the decision to join the alliance. The country had since postponed its incorporation into the alliance indefinitely, pending consultations by its presidential economic council. However, on 8 July 2022, President Rodrigo Chaves Robles announced that Costa Rica had applied to become a full member of the Alliance. Ecuador has been critical of the alliance in conjunction with other leaders of ALBA , but its president, Rafael Correa , has also speculated on

451-628: Is primarily spoken in the Lesser Antilles. It is a French-based creole, that is the local language spoken among the natives of the Caribbean islands of Saint Lucia and Dominica and also in Martinique and Guadeloupe . Creole languages of mainland Latin America, similarly, are derived from European languages and various African tongues. The vast majority of Latin Americans are Christians (90%), mostly Roman Catholics . About 71% of

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492-494: Is seen as a foundation for the Alliance's economic integration. These three stock markets began their integration in November 2010; this made it Latin America's largest market according to number of issuers, the second by market capitalization, and the third by turnover. The Mexican Stock Exchange began the process of incorporation into MILA and its full incorporation was expected by the year 2014. The Mexican Stock Exchange took

533-516: The Caribbean region, creole languages are spoken. The most widely spoken creole language in the Caribbean and Latin America in general is Haitian Creole , the predominant language of Haiti ; it is derived primarily from French and certain West African tongues with indigenous, English, Portuguese and Spanish influences as well. The other most spoken Creole is Antillean Creole French that

574-617: The Dominican Republic and Puerto Rico in the Caribbean —in summary, Hispanic America , plus Brazil and Haiti . Canada and the United States , despite having sizeable Romance-speaking communities, are almost never included in the definition, primarily for being predominantly English-speaking Anglosphere countries. Latin America, therefore, can be defined as all those parts of the Americas that were once part of

615-509: The Spanish , Portuguese or French colonial empires, namely Spanish America , Colonial Brazil and New France . . The population of Latin America comprises a variety of ancestries, ethnic groups and races, making the region one of the most diverse in the world. The specific composition varies from country to country: many have a predominance of mixed European and native American, or mestizo , population; in others, native Americans are

656-461: The United States was willing to join the Pacific Alliance as an observer on 23 May 2013, in Bogotá, Colombia, during a bilateral meeting with Colombian President Juan Manuel Santos . Argentine President Mauricio Macri , during his campaign and in press conferences after the election, has expressed his desire to bring his country closer to the Pacific Alliance and also work on integration between

697-551: The World Federation of Exchanges . The joint capitalization of the four bourses tops US$ 1.25 trillion, making it larger than the US$ 1.22 trillion BM&F Bovespa . Among the more important agreements that have been reached is the creation of joint diplomatic missions (embassies, consulates, etc.) that will provide citizens of Pacific Alliance member states with needed diplomatic services. The Declaration of Cali highlights

738-431: The impeachment of Fernando Lugo , although Paraguay asked Mercosur to lift the sanction. After the election and inauguration of Horacio Cartes , Paraguay has so far claimed "Paraguay would not abandon Mercosur", but assured it will seek to join the alliance. The government has said it is reportedly considering joining the Pacific Alliance in addition to rejoining Mercosur. U.S. Vice President Joe Biden expressed that

779-551: The world's second largest Christian population , after Europe . According to the 2005 Colombian census or DANE, about 3,331,107 Colombians currently live abroad. The number of Brazilians living overseas is estimated at 2 million people. An estimated 1.5 to two million Salvadorians reside in the United States. At least 1.5 million Ecuadorians have gone abroad, mainly to the United States and Spain. Approximately 1.5 million Dominicans live abroad, mostly in

820-538: The 9th (or 7th) largest economy in the world. According to the World Trade Organization , the countries of the Pacific Alliance together exported roughly US$ 680 billion in 2019, almost twice as much as Mercosur , the other predominant Latin American trade bloc. Individually and collectively, the core countries of the Pacific Alliance have been deemed " The Pacific Pumas " by political scientists, for their model of economic and political development. At

861-569: The Caribbean. Dutch is the official language of some Caribbean islands and in Suriname on the continent; however, as Dutch is a Germanic language , these territories are not considered part of Latin America. Indigenous languages are widely spoken in Peru , Guatemala , Bolivia and Paraguay , and, to a lesser degree, in Mexico , Chile and Ecuador . In Latin American countries not named above,

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902-923: The Latin American population consider themselves Catholic. Membership in Protestant denominations is increasing, particularly in Brazil , Guatemala and Puerto Rico . Argentina hosts the largest communities of both Jews and Muslims in Latin America. Indigenous religions and rituals are practiced in countries with large indigenous populations, especially Bolivia, Guatemala, Mexico and Peru, and Afro-Latin American religions such as Santería , Candomblé , Umbanda , Macumba and Vodou are practiced in countries with large Afro-Latin American populations, especially Cuba, Brazil, Dominican Republic and Haiti. Latin America constitutes, in absolute terms,

943-640: The Lima Exchange. Other indices are S&P/BVL Peru Select and S&P/BVL Lima 25. The Lima Stock Exchange is a member of the United Nations Sustainable Stock Exchanges initiative . Sectors in the Lima Stock Exchange: 12°02′54.88″S 77°01′52.94″W  /  12.0485778°S 77.0313722°W  / -12.0485778; -77.0313722 This bank and insurance -related article

984-456: The Pacific Alliance has begun several other projects for regional integration, including visa-free tourist travel, a common stock exchange, and joint embassies in several countries. In May 2016, the Pacific Alliance removed 92 percent of tariffs on goods traded between members. Based on a 2013 agreement, the rest of the tariffs will be removed by 2020. On 26 January 2022, the Pacific Alliance signed its first collective free trade agreement with

1025-419: The Pacific Alliance. The initial goal of the alliance was to further free trade with "a clear orientation toward Asia" and regional economic integration. Together, the four member states of the Pacific Alliance represent nearly 35 percent of Latin American GDP. If it were counted as a single country, the Pacific Alliance would have a nominal GDP of US$ 2.02 trillion (US$ 4.32 trillion at PPP GDP rates), making it

1066-635: The United Kingdom and the United States, as well as three of the five Southern Common Market ( Mercosur ) countries and a member of the Bolivarian Alliance for the Peoples of Our America ( ALBA ). Analysts describe the Pacific Alliance as a tool to practise a kind of joint "nation-branding" to promote trade and investment and to enhance the international status and visibility of the member states. In addition to reducing trade barriers ,

1107-753: The United States. More than 1.3 million Cubans live abroad, most of them in the United States. It is estimated that over 800,000 Chileans live abroad, mainly in Argentina, Canada, United States and Spain. Other Chilean nationals may be located in countries like Costa Rica, Mexico and Sweden. An estimated 700,000 Bolivians were living in Argentina as of 2006 and another 33,000 in the United States. Central Americans living abroad in 2005 were 3,314,300, of which 1,128,701 were Salvadorans , 685,713 were Guatemalans , 683,520 were Nicaraguans , 414,955 were Hondurans , 215,240 were Panamanians and 127,061 were Costa Rica . As of 2006, Costa Rica and Chile were

1148-850: The VII Pacific Alliance Summit in Cali , Colombia, on 22 May 2013, Costa Rica signed a trade agreement with Colombia, and later in the summit received approval for full membership from all the founding members. Costa Rica is finishing up the process so it can be readily incorporated as the Alliance's fifth member. At the same summit seven observers were admitted: the Dominican Republic, Ecuador, El Salvador, France, Honduras, Paraguay, Portugal, among others. The Pacific Alliance currently has 54 observer states as of 2024, including economic heavyweights such as Australia, Canada, China, France, Germany, Italy, Japan, South Korea, Spain,

1189-569: The bloc and his country's trade bloc Mercosur . Uruguay has been encouraged to join the alliance by existing members Peru and Colombia, and is reportedly considering the possibility of accession. Honduras officially applied for formal membership in October 2016, with the vocal support of Chile. Latin American Latin American countries and their diasporas are multi-ethnic and multi-racial . Latin Americans are

1230-404: The country's Caribbean coast English and indigenous languages such as Miskito , Sumo , and Rama also hold official status. Colombia recognizes all indigenous languages spoken within its territory as official, though fewer than 1% of its population are native speakers of these. Nahuatl is one of the 62 native languages spoken by indigenous people in Mexico that are officially recognized by

1271-495: The first trade made as part of MILA on 2 December 2014. The trade on MIILA was a $ 1,415 purchase of 200 shares in Chilean retailer Falabella , executed by GBM Mexico through GBM Chile. With the entry of Mexico into MILA, the integrated stock market now counts 780 issuers among the four countries, making it the biggest market by number of listed companies in Latin America, and the biggest in terms of market capitalization, according to

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1312-542: The four founding members, and has been encouraged by regional leaders to join the alliance. However the Canadian government has yet to upgrade its observer status to observer-candidate as it is still determining whether or not to become a member. Costa Rica began the process of joining on 10 February 2014 at the eighth summit of the Alliance in Cartagena de Indias , Colombia, when President Laura Chinchilla signed

1353-964: The government as "national languages" along with Spanish. Other European languages spoken in Latin America include: English , by some groups in Argentina , Chile , Costa Rica , Nicaragua , Panama and Puerto Rico , as well as in nearby countries that may or may not be considered Latin American, such as Belize and Guyana ; English is also used as a major foreign language in Latin American commerce and education. Other languages spoken in parts of Latin America include German in southern Brazil , southern Chile , Argentina, portions of northern Venezuela and Paraguay; Italian in Brazil , Argentina, Uruguay and Venezuela; Polish , Ukrainian and Russian in southern Brazil; and Welsh in southern Argentina. Hebrew and Yiddish are used by Jewish diasporas in Argentina and Brazil. In several nations, especially in

1394-732: The importance of the opening of an embassy shared between Chile, Colombia, Mexico and Peru in Ghana , as well as the agreement between Chile and Colombia to share embassies in Algeria and Morocco and between Colombia and Peru to share an embassy in Vietnam . The Declaration of Cali encourages these countries to move forward on these initiatives. In November 2014, Mexico opened its first trade office in Africa; located in Casablanca and shared with

1435-543: The largest diasporas of Spaniards , Portuguese , Africans , Italians , Lebanese and Japanese in the world. The region also has large German (second largest after the United States), French , Palestinian (largest outside the Arab states), Chinese and Jewish diasporas . The specific ethnic and/or racial composition varies from country to country and diaspora community to diaspora community: many have

1476-415: The only two countries with global positive migration rates. Lima Stock Exchange The Lima Stock Exchange ( Spanish : Bolsa de Valores de Lima , BVL ) is the stock exchange of Peru , located in the capital Lima . It has several indices. The S&P/BVL Peru General Index (formerly IGBVL) is a value-weighted index that tracks the performance of the largest and most frequently traded stocks on

1517-481: The other Pacific Alliance members. As of July 2018, there are 55 observer states of which two are candidate countries, in process of full membership, which are the Central-American countries of Costa Rica and Panama. Canada has also been mentioned as a candidate to join the alliance, and called a "natural fit" by Mexico's vice-minister of foreign affairs, Sergio Alcocer. It has free-trade agreements with

1558-405: The population of speakers of indigenous languages is small or non-existent. In Peru , Quechua is an official language, alongside Spanish and any other indigenous language in the areas where they predominate. In Ecuador , while holding no official status, the closely related Quichua is a recognized language of the indigenous people under the country's constitution; however, it is only spoken by

1599-711: The predominant languages of Latin America. Spanish is the official language of most of the countries on the Latin American mainland, as well as in Puerto Rico (where it is co-official with English), Cuba and the Dominican Republic . Portuguese is spoken only in Brazil , the biggest and most populous country in the region. French is spoken in Haiti , as well as in the French overseas departments of French Guiana in South America and Guadeloupe and Martinique in

1640-494: The step of acquiring a total of 3.79 million shares of the Lima Stock Exchange (BVL), equivalent to 6.7 percent of the shares of Series A of that market. This is part of an agreement for a strategic partnership in order to develop joint business activities and development of the stock markets of Peru and Mexico, and eventually complete integration into MILA. The Mexican Stock Exchange met the timeframe and announced

1681-1029: The world, particularly in densely populated urban areas. The most important migratory destinations for Latin Americans are found in the United States , Spain , France , Canada , Italy and Japan . Latin America ( Spanish : América Latina or Latinoamérica ; Portuguese : América Latina ; French : Amérique latine ) is the region of the Americas where Romance languages (i.e., those derived from Latin )—particularly Spanish and Portuguese , as well as French —are primarily spoken. It includes 21 countries or territories: Mexico in North America ; Guatemala , Honduras , El Salvador , Nicaragua , Costa Rica and Panama in Central America ; Colombia , Venezuela , Ecuador , Peru , Bolivia , Brazil , Paraguay , Chile , Argentina and Uruguay in South America ; and Cuba , Haiti ,

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