The Pacific Alliance is one of the youngest integration groupings in Latin America. At a time of high popularity of postliberal regionalism among Latin American countries, it promotes open regionalism above ideological divisions, providing new dynamism to regional economic cooperation, and it fits well within the global trend of a turn to the intensively developing area of Asia and the Pacific. The aim of this article is to present the Pacific Alliance against the background of the dynamic integration processes in Latin America, including both its special characteristics and its complementarity with the existing regional organisations.