KUALA LUMPUR (Dec 9): The Pacific Alliance countries comprising Chile, Colombia, Mexico and Peru look forward to strengthening their partnership with Asean, the rising star in the Asia Pacific, during Malaysia's chairmanship next year, said Mexican Ambassador to Malaysia Luis Javier Campuzano.

He said the Pacific Alliance, established in 2011, brings Latin America's four most dynamic countries to focus on free trade and open markets to deepen economic integration, reduce barriers, promote trade, open new avenues for business, investment, and innovation and foster regional development.

Together, they represent over 230 million people and boast a combined GDP of over US$3.7 trillion, making the Pacific Alliance a significant player on the global stage as the eighth largest economy globally.

"The Alliance's emphasis on creating an open and inclusive market has not only benefited its members by reducing poverty and enhancing competitiveness but has attracted countries from all over the world, seeking partnerships with this emerging economic power bloc," Campuzano said.

He said through collaborative efforts in areas like education, infrastructure, and sustainability, the Pacific Alliance is working to build a future of shared prosperity and resilience and is strengthening its position in the global economy.

Speaking at the Seminar on Business Opportunities Within Pacific Alliance held at his official residence here recently, he said the alliance's emphasis on creating an open and inclusive market has not only benefited its members by reducing poverty and enhancing competitiveness but has attracted countries to seek partnerships with the emerging economic power bloc.

“Through collaborative efforts in areas like education, infrastructure, and sustainability, the Pacific Alliance is working to build a future of shared prosperity and resilience and is strengthening its position in the global economy,” he added.

On Mexico-Malaysia ties, he said both nations can work together in areas such as automotive parts, electrical and electronic components, medical devices, the digital economy, e-commerce, aerospace, and the energy industry, just to name a few.

These are dynamic and growing sectors in both countries that can benefit from further collaboration, added Campuzano at the event attended by Deputy Investment, Trade and Industry Minister Liew Chin Tong.

Meanwhile, Colombian Ambassador to Malaysia, Alejandro Rosselli Londoño said in his presentation that Colombia is looking forward to working with Malaysia in the food security sector.

“Globally, Colombia is the top exporter of Arabica coffee, second of green coffee, fourth of bananas and sixth exporter of fresh fruits,” he added.

On the people-to-people movement, he said 300 Malaysians visited Colombia in 2023.

Until early December this year, about 1,000 Malaysians visited Colombia, Peru and Chile.

Meanwhile, Peruvian Ambassador to Malaysia, Ricardo Morote said in his presentation that Prime Minister Datuk Seri Anwar Ibrahim's official visit last month was a turning point in the bilateral relationship that will be resilient, prosperous and mutually beneficial.

According to the envoy, Peru and Malaysia saw a significant 49% year-on-year rise in bilateral trade in the first nine months of 2024 since both countries joined the Comprehensive and Progressive Agreement for Trans-Pacific (CPTPP).

Elaborating on the sectors with the greatest trade and investment potential, Morote said these include renewable energy, electrical and electronics and halal agricultural exports.

"Malaysian halal companies can seek partners in Peru to invest in the agriculture and food industry," he said, highlighting the strategic role of the Port of Chancay in improving bilateral trade with Asia.

Meanwhile, Chilean Ambassador to Malaysia Jaime Muñoz Sandoval said his country will be chairing the alliance until Dec 13, with Colombia presiding after that.

According to him, the three Pacific Alliance countries Chile, Peru and Mexico are also CPTPP members with Malaysia.

The agreement includes provisions that promote anticorruption transparency and probity in both the public and private sectors, he added.

"These principles are central to the functioning of the agreement and its implementation, aiming to enhance fairness, reduce corruption and ensure ethical practices in business and governance," he added.

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