The Preparatory Workshop for the 2nd Conference on the Financial Integration of the Pacific Alliance was held in Lima, Peru, last January 14. It was attended by high-level representatives of the public and private sectors of the four member countries of the Alliance (Chile, Colombia, Mexico and Peru). The Workshop successfully fulfilled its purpose, achieving consensus and establishing a common agenda in matters of financial integration.

The Workshop was jointly organized by the Ministry of Economy and Finance of Peru (MEF) and the National Confederation of Private Business Institutions of Peru (CONFIEP), on behalf of the Peruvian Chapter of the Business Council of the Pacific Alliance (APEC), with the support of the Inter-American Development Bank (IDB). The purpose of the workshop was to analyze the progress and agreements reached in the Paracas Declaration of July 2015, and identify pending issues and challenges to date.

During the event, representatives of the public and private sectors worked in workshops discussing issues related to fiscal transparency, catastrophic risk, strengthening and consolidation of capital markets, greater participation of pension funds and other agents in the aforementioned market and recognition and mobility of pension savings. The participants subsequently reached mutual agreement on consolidating the progress made in each one of these areas.

The President of FIAP, Guillermo Arthur, and the former General Manager of the Chilean Association of AFPs, Francisco Margozzini, attended one of the workshops entitled “Recognition and mobility of pension savings.” In the meeting also participated Augusto Iglesias, External Consultant of PrimAmérica Consultores, representing to FIAP. Augusto Iglesias, as a consultant, was hired in 2014 by FIAP in order to design a strategy for broadening and deepening the participation of pension funds in stock markets of the Pacific Alliance.

Regarding the strengthening and consolidation of the capital market, it is worth mentioning the agreement for the creation of a MILA emission model, and establishing common principles of a tax nature for facilitating joint emissions.

On the other hand, it was agreed to work on expanding the investment limits of the pension funds in the countries of the Pacific Alliance, and also seek to apply the principles governing the Chilean-Peruvian Bilateral Agreement on mobility and recognition of pension savings in the other countries of the Alliance, through bilateral agreements.

All those attending unanimously agreed that the legal and regulatory stability of the member countries of the Pacific Alliance is a factor that has enabled significant progress in financial integration.

The representatives of the public and private sectors of the four member countries will meet again in Lima in the first week of May, in the 2nd Public/Private Congress on Financial Integration, to discuss the progress made to date and draw up a joint proposal on financial integration to be submitted to the Presidents of each one of the member countries of the Pacific Alliance next July.

Source: www.confiep.org.pe

The Preparatory Workshop for the 2nd Conference on the Financial Integration of the Pacific Alliance was held in Lima, Peru, last January 14. It was attended by high-level representatives of the public and private sectors of the four member countries of the Alliance (Chile, Colombia, Mexico and Peru). The Workshop successfully fulfilled its purpose, achieving consensus and establishing a common agenda in matters of financial integration.

The Workshop was jointly organized by the Ministry of Economy and Finance of Peru (MEF) and the National Confederation of Private Business Institutions of Peru (CONFIEP), on behalf of the Peruvian Chapter of the Business Council of the Pacific Alliance (APEC), with the support of the Inter-American Development Bank (IDB). The purpose of the workshop was to analyze the progress and agreements reached in the Paracas Declaration of July 2015, and identify pending issues and challenges to date.

During the event, representatives of the public and private sectors worked in workshops discussing issues related to fiscal transparency, catastrophic risk, strengthening and consolidation of capital markets, greater participation of pension funds and other agents in the aforementioned market and recognition and mobility of pension savings. The participants subsequently reached mutual agreement on consolidating the progress made in each one of these areas.

The President of FIAP, Guillermo Arthur, and the former General Manager of the Chilean Association of AFPs, Francisco Margozzini, attended one of the workshops entitled “Recognition and mobility of pension savings.” In the meeting also participated Augusto Iglesias, External Consultant of PrimAmérica Consultores, representing to FIAP. Augusto Iglesias, as a consultant, was hired in 2014 by FIAP in order to design a strategy for broadening and deepening the participation of pension funds in stock markets of the Pacific Alliance.

Regarding the strengthening and consolidation of the capital market, it is worth mentioning the agreement for the creation of a MILA emission model, and establishing common principles of a tax nature for facilitating joint emissions.

On the other hand, it was agreed to work on expanding the investment limits of the pension funds in the countries of the Pacific Alliance, and also seek to apply the principles governing the Chilean-Peruvian Bilateral Agreement on mobility and recognition of pension savings in the other countries of the Alliance, through bilateral agreements.

All those attending unanimously agreed that the legal and regulatory stability of the member countries of the Pacific Alliance is a factor that has enabled significant progress in financial integration.

The representatives of the public and private sectors of the four member countries will meet again in Lima in the first week of May, in the 2nd Public/Private Congress on Financial Integration, to discuss the progress made to date and draw up a joint proposal on financial integration to be submitted to the Presidents of each one of the member countries of the Pacific Alliance next July.

Source: www.confiep.org.pe