FEALAC (The Forum for East Asia-Latin America Cooperation)

The Forum for East Asia-Latin America Cooperation (FEALAC) was initiated by
then-Prime Minister Goh Chok Tong in 1998 to establish a link between East Asia and
Latin America. At that time, both shores of the Pacific were joined through the AsiaPacific Economic Cooperation (APEC) while Europe was linked to Asia through the
Asia-Europe Meeting (ASEM). FEALAC was thus formed to bridge the "missing link"
between these two regions.
The Forum for East Asia-Latin America Cooperation (FEALAC) is an association
of 36 countries from East Asia and Latin America that came together for the first time to
form an official and regular dialogue channel between the two regions.
The basic principles of FEALAC are: respect for sovereignty and territorial
integrity of each country; non-interference in the internal affairs of other States; equality,
mutual benefits and development promotion; respect for cultural and social diversity;
and the prevalence of consensus in the decision-making process.
Singapore, in terms of gains through trade and industry exceeds the other east
Asian countries due to its significant influence with the Latin American countries but it is
also undeniable that Philippines is somehow gaining as with respect with the
organization as FEALAC advocates free trade and full gains for each regions.
As for the Philippines, the country needed to open up its borders wider for the
economic prosperity it can gain from the foreign countries through trade and remove the
barriers to fully comprehend the ideals of gain and prosperity that can be fully utilized if
the country open up its borders

Pacific Alliance
The Pacific Alliance is an initiative of regional integration comprised by Chile,
Colombia, Mexico and Peru, officially established on April 28th, 2011. Its objectives are:

Build in a participatory and consensual way an area of deep integration to move

progressively towards the free movement of goods, services, resources and
people.

Drive further growth, development and competitiveness of the economies of its

members, focused on achieving greater well-being, overcoming socioeconomic
inequality and promote the social inclusion of its inhabitants.

Become a platform of political articulation, economic and commercial integration

and projection to the world, with emphasis on the Asia-Pacific region.
Pacific Alliance is a strategic platform because it seeks deeper integration of

services, resources, investments and movement of people. It is an open and inclusive

integration process, comprised by countries with similar visions of development and of
the free trade. It is a dynamic initiative with a high potential and business projection. The
economies of member countries rank, altogether, eighth place worldwide. It offers
competitive advantages for international businesses, focusing on Asia-Pacific region.
The Pacific Alliance is the eighth economic power and the eighth export force
worldwide. In Latin America and the Caribbean the block of countries represent the 38%
of the GDP, 50% of the total trade and attracts 45% of the Foreign Direct
Investment. The four countries gather a population of 216 million persons and have an
average per capita GPD of USD 9,910. The population is mainly young and constitutes
a qualified labor force as well as an attractive subset of consumers whose purchase
power is in constant growth.
If the Philippines decides to join the Pacific Alliance, the Philippines will be a nonmember country, Non-member countries may participate as observers according to the
provisions established by the Council of Ministers, that is sharing the principles and
objectives set out in the Framework Agreement of the Pacific Alliance. Requesting the
Pro Tempore Presidency to be Observer; the decision is made by the members and

communicated to the applicant countries. Observer countries may participate in

meetings to which they are invited by consensus among the Member Countries, and
they only have the right to speak but not to vote.