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Translation - English An Introduction to the Pacific Alliance
Latin America and the Caribbean constitute an ever more important region on the global economic stage. World Bank data for 2013 puts the population of this region at 588 million, of whom 65% are of working age. Latin America has seen a 3.9% rise in economic growth over the past decade, higher than both the US (1.8%) and Europe (1.2%).
At the forefront of such growth are four key Latin American countries: Chile, Colombia, Mexico, and Peru. They are united through geography, culture and language, with similar levels of development, stable democracies and complimentary economies. Because of these shared dynamics and in response to the 2008 international economic crisis (which as we know primarily affected developed nations), the four countries came together on April 28th 2011 to form the Pacific Alliance (PA).
The PA is a cooperative regional initiative and the most ambitious and promising agreement of its kind in the region. Its first goal is to strengthen free trade, economic integration and the free movement of people within the bloc. Its second goal is to establish itself as one of the world’s leading trade and business platforms, with a view to fostering close ties with other regions (particularly the Asia-Pacific region). Achieving the first goal is the first step in reaching the second.
The integration of PA member states’ economies includes the establishment of a regional production platform that strengthens global value chains. When combined with improved political coordination, joint promotion strategies, increased innovation between various sectors, as well as a comprehensive mechanism to resolve trade disputes both regionally and internationally, the result is an attractive environment for foreign investors.
The PA also enables member states to compete more successfully on world markets. There is a strong desire among these nations to develop a knowledge economy in which SMEs come to spearhead economic growth. Promotion is a big factor in achieving this goal, and promotional agencies from the four member states (ProChile, Proexport Colombia, ProMéxico and PROMPERÚ) have already successfully held business networking events to allow such enterprises to negotiate with their counterparts from around the world.
In short, the PA has already enjoyed great successes. Thirty countries currently participate as observers, with Costa Rica and Panama set to join the alliance in the near future.
PA Data (ECLAC, IMF, Mexican Stock Exchange, WB, WEF, WTO, UNCTAD)
• PA member states will be among the five fastest growing economies by 2018.
• In 2013, the PA represented 36.8% of the GDP of Latin America and The Caribbean, amounting to 2 trillion USD (higher than Brazil).
• In 2013, PA member states registered per capita GDP of over 10,000 USD.
• Industrial activity constitutes 36% of the PA’s GDP, compared with 27% in the G7.
• The PA is responsible for 50% of total trade in the Latin American and Caribbean region, also receiving 41% of FDI. These figures are greater than those for Mercosur.
• In 2013, PA exports were valued at 556.9 billion USD, positioning the bloc as the world’s eighth largest economy and eighth most important exporter.
• PA member states have efficient investor protection mechanisms in place and have better investment ratings than BRIC countries.
• In 2013, PA member states were among the 10 Latin American countries with best ratings on the Logistics Performance Index. This means that they have quality trade and transport-related infrastructure, low-cost logistics services and competitive shipping prices.
• In the last decade, inflation in PA member states has dropped steadily and has been lower than the world average.
• The service sector is growing in PA economies, leading to a direct and favourable impact on the development and diversification of its members.
• Seven out of every ten medium and high-tech products exported by Latin America are produced in PA member states, with a trend of exported products being more valuable than imported products.
• As part of a wider elimination of trade barriers, PA member states have agreed to a 100% removal of tariffs between them.
Mexico and The Asia-Pacific Region
Mexico, chair of the PA for 2014, is currently carrying out its 2013-2018 National Development Plan: strengthening economic prosperity, ensuring an inclusive Mexico for all Mexicans and consolidating the country’s position on a global scale. Statistics show that it is right on track. Mexico has secured more trade agreements with more countries than any other PA member state. In 1993, trade in merchandise constituted only 23.7% of Mexico’s GDP. Twenty years on, it represents 63.3%, with exports reaching 380 billion USD. Tourism is also playing an increasingly important part in the Mexican economy, with attractions such as the Maya pyramids drawing greater numbers than ever before.
As a PA member state, Mexico’s aforementioned international economic bridges serve to foster closer ties with other regions, particularly the Asia-Pacific region. The world’s economic centre of gravity is shifting towards this region, which now accounts for 60% of global GDP. Between 2013-2018, it is estimated that countries in the Asia-Pacific region will post average annual growth of 6.1%, higher than projections for North America, the European Union and Latin America and the Caribbean. The Asian-Pacific region is therefore a strategic partner for Mexico in driving the production chain. At the same time, due to accelerated wages, rising exchange rates, and the geolocation of China and others in the region, Mexico’s international competitiveness has strengthened considerably.
In particular, the Asian market is a driver of global growth, making the Pacific Ocean of paramount importance for the future of trade. Historically, Mexico has maintained commercial relations with Asia for over 500 years, starting with the Manila Galleons that shipped previously unknown products between continents. In a sense, the PA is returning to this dynamic mercantile relationship and updating it for our times. In 1990, exports from Latin America to Asia reached 10 billion USD. Twenty years later, this figure has reached 130 billion USD.
Mexico and China
China, the world’s second largest economy, has become Mexico’s second largest trading partner, with bilateral trade standing at 62-66 billion USD in 2012. Figures published by The Mexican Ministry of Economy reveal that Mexico has received 286 million USD in Chinese investment in the last fifteen years, 35% of which occurred in the last two years. The development of an electronics-manufacturing base is a clear reflection of such investment, with many manufacturing plants having moved to Mexico to supply the US and Latin America. Likewise, Mexican exports to China including pork and tequila are on the up. With a burgeoning middle class, Chinese consumers are also hungry for new advanced technology and communication products. Historically, Latin America has been a major producer of raw materials and foodstuffs, yet exports of such medium and high-level technology have grown steadily, presenting an extremely promising opening for trade.
There is a Chinese proverb: “let us bring our heads together for the benefit of all”. Asia-Pacific countries, especially Asian countries, do not necessarily condition their economic growth on the signing of trade agreements with other nations, focusing instead on a series of economic policies designed to improve infrastructure, technology, innovation, and human resource training. Yet there is a tendency for some Asian countries to establish contractual relationships with external partners in the creation of trade agreements, keeping options open to establish clear trade and investment regulations in interactions between countries. Mexico has significant experience in these areas, and is willing to explore different cooperative mechanisms in the process of mutual learning.
Spanish to English: CrowdFarming General field: Marketing Detailed field: Advertising / Public Relations
Source text - Spanish Querido CrowdFarmer,
Muchas gracias por confiar en nuestro proyecto. Para nosotros está siendo muy emocionante ver la buena acogida que ha tenido nuestro aceite. Es muy gratificante saber que gente de puntos muy dispares de Europa valora el aceite que humildemente hacemos en este rincón de la sierra Mariola.
La finca Verdecho llevaba 15 años abandonada cuando la rescatamos en 2014. Los olivos plantados en 1950 y 1987 necesitaban mucho trabajo y cariño para volver al estado que se merecen. Tuvimos que plantar más de 1000 olivos de nuevo y elegimos la variedad Alfafarenca por ser junto con la Blanqueta variedades tradicionales de la Montaña de Alicante, aunque este último año también hemos incorporado más de un centenar de olivos de la variedad Manzanilla Villalonga. Iniciamos el proceso de certificación en agricultura ecológica el mismo año de la adquisición ya que desde 2009 habíamos empezado a certificar otras parcelas y estábamos seguros que ese era el camino a seguir.
Al tratarse de un producto vivo, queremos darte unas recomendaciones para su mejor conservación:
Mantenlo al abrigo de la luz en un lugar fresco y seco. La temperatura de conservación ideal es entre 17 y 22. Evita tenerlo cerca de fuentes de calor como radiadores o electrodomésticos. Cierra siempre el recipiente después de usarlo. El aceite tiende a absorber aromas y puede adelantar su oxidación.
El Aceite de Oliva Virgen Extra es un ingrediente indispensable en nuestra cocina mediterránea, debido a su aroma fresco y sabor frutado podemos usarlo en crudo como aliño de platos y ensaladas, o cocinado ligado perfectamente con verduras, carnes y pescados. ¡Te invitamos a que experimentes con él en tus platos!
Deseamos que lo disfrutes tanto como nosotros y esperamos tu visita en nuestra finca.
Translation - English Dear CrowdFarmer,
A big thank you for believing in our project. It is very moving for us to see the great reception that our oil has had, and heartening to know that people from across Europe value the oil made humbly by ourselves in this corner of the Mariola range.
The Verdecho farm had been abandoned for 15 years when we rescued it in 2014. The olive trees planted in 1950 and 1987 needed a lot of work and care to return them to the state that they deserved. We had to plant more than 1000 trees from scratch and opted for Alfafarenca, as like Blanqueta it is a variety traditional to the Alicante Mountain. We have nevertheless also incorporated more than a hundred of the Manzanilla Villalonga variety this last year. Given that we had already started certifying other plots in 2009 and were sure of continuing down this route, we began the organic farming certification process the same year as the acquisition.
As you are dealing with a live product, we would like to give you some recommendations for best storage:
Keep out of the light in a cool dry place. Ideal storage temperature is between 17 and 22 degrees. Keep away from heat sources such as radiators or domestic appliances. Always seal container after use. Oil has a tendency to absorb aromas which can speed up oxidation.
Extra Virgin Olive Oil is an indispensable ingredient in the Mediterranean kitchen. Its fresh aroma and fruity flavour mean that we can use it as a dressing for dishes and salads, or as a perfect match when cooking vegetables, meat, and fish. We want you to experiment with it in your cooking!
We hope that you get as much enjoyment out of it as we do, and look forward to your visit to our farm.
Bachelor's degree - The University of Sheffield
Years of experience: 6. Registered at ProZ.com: Apr 2020. Became a member: Apr 2020.
I'm a Chinese / Spanish to English translator and native English speaker, with professional working proficiency in each of my languages.
I specialize in commercial and marketing projects, with experience in retail, food and drink, education, trade, tourism, gaming, literature, and other areas. My services span translation, transcreation, localization, editing, and proofreading.
I also provide native speaker conversation practice through ProZ, for anyone seeking to improve their level of English.