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.