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      Archive: 2/11/2014
      13:35
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      News Brief

        2/11/2014, Adar 11, 5774

      Israel Accepted as Observer in Latin Pacific Alliance


      Israel was accepted, Monday, as one of five new observer nations among 28 in the Pacific Alliance (Alianza del Pacífico in Spanish) a Latin American trade bloc consisting of Chile, Colombia, Mexico Peru, and Costa Rica, which was accepted as a member state. The status will allow Israel to participate in the organization's top-level work and conferences, which will allow it to promote cooperation with the member states.

      Today , the volume of exports of goods from Israel to Pacific Alliance countries stands at $864 million a year, about 1% of the total export of Israeli goods. By comparison, the export of goods to India whose economy is smaller than the combined economy of the Pacific Alliance was approximately 3.4% of total exports in 2013.