Baker McKenzie has released a first-of-its-kind handbook with a detailed analysis of the Additional Protocol to the Framework Agreement of the Pacific Alliance, and its first amendment. The additional protocol contains provisions to create a free-trade zone between the current member countries of the Pacific Alliance: Chile, Colombia, Mexico and Peru, a bloc which combined, would be the world's eighth largest economy.
This go-to guide provides an in-depth analysis of the additional protocol's most relevant chapters by Baker McKenzie's dedicated Pacific Alliance Taskforce, examining key legal considerations which companies should take into account when conducting business in the bloc. The handbook has been created by specialist attorneys across the four countries where Baker McKenzie has been advising clients for over six decades.
The Pacific Alliance continues to play an important role in the harmonization and standardization of commercial exchanges in key industries throughout Latin America, such as healthcare, cosmetics and e-commerce
says Luis Alonso Garcia, co-founding member of Baker McKenzie's Pacific Alliance Taskforce and former Vice-Minister of Foreign Trade of Peru.
Given the uncertainty around the TPP and other trade agreements, the Pacific Alliance is an attractive and powerful vehicle that can bridge an even closer connection between Asia Pacific countries and the Latin America region.
The guide analyzes the legal and regulatory implications of the additional protocol and its first amendment, such as:
- Access to markets and remaining compliant.
- Liberalization policies on goods, services, capital and labor laws of the countries of the Pacific Alliance.
- Improvement of regulatory standards in e-commerce, finance, telecommunications, public health and cosmetics.
- Public tenders, facilitation of commerce and customs cooperation, among others.
Sophisticated clients demand local expertise to understand the particularities of each market they do business in. Combined with our local, regional and global reach, we are uniquely positioned to help clients seize opportunities and identify risks as the Pacific Alliance continues to integrate,
adds says Adriana Ibarra, Co-Chair of Baker McKenzie's Pacific Alliance Taskforce, and co-author of the handbook.
This new handbook is another example of our commitment to clients around the world interested in doing business across different regions and blocs, including within the Pacific Alliance.
A version of the handbook can be requested here.