Pacific Alliance offers chances for Turkey: Envoys

ANKARA

The Pacific Alliance, a trade bloc in Latin America, "offers broad opportunities" for Turkey, several ambassadors in Ankara said Wednesday, marking the tenth anniversary of the alliance.

"It is possible to work together with Turkey to identify areas of shared interests for the development of cooperation projects," the envoys from Chile, Colombia, Mexico and Peru said in a joint statement.

The ambassadors “consider the Pacific Alliance as the best partner for Turkish businesspeople to enter or consolidate in the Latin American market," they said.

The alliance that was established in 2011, seeks to promote free movement of goods, services, capital and people and to enhance greater competitiveness and economic growth in member countries.

Members of the bloc represent 38% of GDP, 50% of total trade and attract 45% of the foreign direct investment in the region.

Ankara joined the bloc as an observer in July 2013 to strengthen its political dialogue with the region and promote bilateral trade and investments.

Turkey currently exports more than $1.2 billion to member countries.