Andean Community Creates Observatory for Pacific Alliance SMEs


As part of the 16th Meeting of the Pacific Alliance Council of Ministers, held on June 30, 2016, in Frutillar (Chile), PA authorities announced the creation of a regional observatory for SMEs (link in Spanish), which will provide entrepreneurs with relevant information on best practices, legal frameworks, and business opportunities.

The observatory (link in Spanish) will initially be coordinated by a technical team from Peru, which will undertake initiatives that aim to facilitate trade, internationalize companies, and promote the free movement of goods, services, persons, and capital.

At the meeting, the ministers present also signed an agreement to recognize the validity of electronic signatures, which will enable the interoperability of Single Windows for Foreign Trade (VUCEs). This is a major step forward and compliments the observatory’s objective.

“The implementation of the interoperability scheme will enable anyone who decides to sell their products in another country to be able to do so by submitting the relevant documents at the single window in their country of origin, which will send the paperwork on to the destination country,” explained (link in Spanish) Peru’s minister of foreign trade and tourism, Magalí Silva.