Mexico, Colombia, Peru & Chile are on the way to creating a large single market (over 200 million people) with the recently ehanced Pacific Alliance. Costa Rica and Panama want in.
I think they call it the Pacific Alliance because Argentina, Venezuela and Brazil are Atlantic nations which are the backbone of the less ambitious Mercosur pact.
It may also be code for “hey Asia, we are open for business”, like our own likely still-born Trans Pacific Partnership.
Cherokee Gothic 