The Finance Ministers of the countries that are members of the Pacific Alliance (Chile, Colombia, Mexico and Peru) met in Washington to analyze progress in financial matters related to the objectives of the Lima Declaration, signed last July. Members discussed financial integration, capital markets and Public-Private Partnerships (PPPs). The next meeting of ministers is scheduled for the first quarter of 2020.

The main issues discussed by officials were: 

• Financial integration: They will work on the necessary requirements to enable the four countries to report and exchange financial information among themselves efficiently. In addition, they will develop strategies to mitigate the impact of cyber attacks.
• Capital Markets: Promote the integration of the Alliance’s capital markets through the promotion of intraregional commercialization of funds and the strengthening of Corporate Governance standards.
• Public-Private Partnerships (PPPs): These will strengthen the standards under which PPP projects are carried out.
• Tax System: They will ratify in each country’s Congress the Convention to Standardize the Tax Treatment foreseen in the Agreements to Avoid Double Taxation, which was signed by Pacific Alliance countries in October 2017. They will also modernize national tax administrations to promote cooperation among them.