One of New Zealand`s objectives for a Pacific Alliance agreement is to secure the commitments made by Chile, Mexico and Peru on the basis of existing agreements (including the CPTPP); a first quality and comprehensive free trade agreement with Colombia; and progressive trade principles, while the government consults with New Zealanders on developing an agenda for trade for all. The Pacific Alliance and Canada, Australia, New Zealand and Singapore began negotiations in October 2017 to deepen their trade partnerships. The first round of free trade negotiations was held in Cali, Colombia, from 23 to 27 October 2017. The second round of negotiations took place from 29 January to 2 February 2018 on the Gold Coast, Australia. The third round of negotiations was held in Chile from 3 to 9 March 2018. However, the Canadian government has yet to upgrade its observer status as a candidate observer, as it remains to be decided whether it becomes a member or not.   Canada has comprehensive and ambitious free trade agreements with the four members of the Alliance. Canada is currently in free trade negotiations with the Alliance as a bloc to become an associated state. In 2017, Canada`s total trade with allied countries was US$50.5 billion – 79% of Canada`s bilateral trade with Latin America (excluding the Caribbean). Canada also has significant investments in all four countries, with $48.4 billion in Canadian direct investment in 2017 – 68.2% of Canada`s total investment in Latin America (excluding the Caribbean). Pacific Alliance is a regional initiative launched in 2011 by Chile, Colombia, Mexico and Peru. The aim of the alliance is to promote the free movement of goods, services, capital and people and to promote greater competitiveness and economic growth in the Member States.
Canada is currently negotiating a potential free trade agreement with the Pacific Alliance, Chile, Colombia, Mexico and Peru. The Pacific Alliance countries have more than 225 million consumers and are an important strategic market, with a GDP of $2.7 trillion (2018). In June 2017, the Pacific Alliance invited Canada, along with Australia, New Zealand and Singapore, to become associated states, requiring any associated state to commit to negotiating a free trade agreement with the Pacific Alliance. On October 22, 2017, Canada announced the opening of FTA negotiations with the Pacific Alliance. A free trade agreement with the Pacific Alliance offers an opportunity to modernize and streamline our existing trade agreements with Pacific Alliance countries, achieve, where possible, gradual improvements in market access, promote an inclusive trade approach, and reaffirm the importance of a rules-based trading system in an era of increasing protectionism. . . .