Ministers of Finance of the Pacific Alliance in New York finished today meetings with senior executives of financial and corporate institutions, representatives of investment funds, asset managers and private equity funds, all of them with a relevant presence in this important global financial capital. Ministers presented the strengths of this economic bloc as well as the different investment opportunities, highlighting the interest shown by several investors with regard to the strong position of the economies of the Pacific Alliance, both in the Latin American context and among emerging economies.
In press conference carried out in New York, the Ministers of Finance stressed that investors were very interested to learn the situation of the countries of the Pacific Alliance and its prospects in a context in which the world economy still presents uncertainty. They also agreed to identify investment opportunities.
The Pacific Alliance, said the Minister of Economy and Finance of Peru, Alonso Segura, is an economic bloc that has structural strengths and solid economic performance even in an unfavorable international environment. These conditions and resilience differentiate us in the region and among emerging countries. "We are countries with a predictable, stable and transparent financial institutional framework in the monetary and fiscal side, and in the treatment of investments (domestic and foreign); solid economic performance and improved economic prospects; as well as strong macroeconomic balances that allows them to cope with adverse international shocks; plus they have adopted measures (fiscal, monetary and macroprudential), that will allow us to continue to strengthen macroeconomic balances and to ensure economic growth", he stressed.
Rodrigo Valdés, Minister of Finance of Chile, emphasized that his colleagues of the Pacific Alliance share coincident views on how to face a more challenging global economic period, tainted with narrower financial conditions and lower commodity prices, which will impact all of our economies. “Likewise, we share a profound commitment towards responsible fiscal management, transparent and stable institutional frameworks, and a sound fiscal position, that will allow us to react appropriately to an adverse international economic scenario. This constitutes an enormous advantage when attracting foreign capitals towards our countries”.
Meanwhile, the Minister of Finance and Public Credit of Colombia, Mauricio Cardenas, highlighted that each country of the Pacific Alliance has consolidated policies of fiscal responsibility for many years, which places them in a privileged position to promote the region as a highly competitive investment destination. "Given the challenges of the global economy, we have taken serious and responsible measures to ensure markets that the Pacific Alliance brand is a seal of quality in macroeconomic management. This underscores the investment opportunities that arise from our financial integration”, he said.
While the Secretary of Finance and Public Credit of Mexico, Luis Videgaray, highlighted the economic and financial integration among the countries of the Pacific Alliance, noting that this increased activity is the natural result of sharing a policy of openness to trade and investment as well as a common vision of economic policy focused on maintaining healthy and sustainable economic fundaments, and consolidating institutions that provide credibility and certainty to economic actors to generate growth. "The trade and financial integration among the countries of the Pacific Alliance is already happening quickly naturally, not only at the public sector, but for itself among our citizens. In this context, we understand that our duty as government is to promote a framework of credible macroeconomic policies, and to build a strong institutional platform for good economic opportunities that arise every day in the Pacific Alliance could be promoted and developed by investors from within and outside the region".
The Pacific Alliance is becoming a benchmark of strength for the global economy, and an attractive market for investors, thanks to its strength and long-term perspectives. We are building the "Pacific Alliance" brand, whose main assets are sound macroeconomic policies and transparency in fiscal management, in order to generate stability, confidence and credibility.
Peru will keep the Pro Tempore Presidency of the Pacific Alliance until July 2016, and during this period, will continue its efforts to show the Pacific Alliance not only as one of the most dynamic integration areas of the world, but also one characterized by its macroeconomic and financial health, strength and resilience policies.