Abstract

MONTOYA-URIBE, Diego Alejandro; GONZALEZ-PARIAS, Carlos Hernán  and  DUARTE-HERRERA, Lisbeth Katherine. Colombia's Foreign Trade Situation and challenges in the Pacific Alliance. Entramado [online]. 2016, vol.12, n.1, pp.50-65. ISSN 1900-3803.  https://doi.org/10.l804l/entramado.2016v12n1.23128.

The Pacific Alliance is an initiative characterized by deeper integration that seeks to address complex issues (not those related exclusively to trade). The PA is founded on the motivations and aspirations of its founder countries. The PA aims to achieve efficient trade liberalization, entry into new markets and integration into Global Value Chains (GVC). Although the existing trade agreements between Colombia and each of the member countries date from several decades ago, a current review of trade dynamics between Colombia and all the other member countries highlights, on the one hand, the deterioration in the volume of exports, and on the other hand, an increase in imports, mainly from Mexico. This has generated a negative trade balance and a considerable lag in terms of openness to foreign trade, measured in per capita terms. However an in-depth analysis through the application of indicators such as Balassa, shows Colombia possesses a measure of stability and efficiency to export to these countries, as well as highlighting the existence of a group of products with considerable comparative advantage, but barely exported by Colombia.

Keywords : The Pacific Alliance; Foreign Trade; Regional Agreement; Comparative Advantage.

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