Andean Pact


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Andean Pact

A regional trade pact that includes Venezuela, Colombia, Ecuador, Peru, and Bolivia.

Andean Community

An international trade organization consisting of Bolivia, Colombia, Ecuador, and Peru, along with some associate and observer countries also located in Latin America. It was established in 1969; in 1992, member nations signed a free trade agreement.

Andean Pact

a regional alliance originally formed in 1969 with the general objective of establishing a ‘common market’ (see TRADE INTEGRATION entry for details). The original members of the Andean Pact were Peru, Chile, Ecuador, Columbia and Bolivia. However, by the mid 1980s it had all but collapsed due to various economic and political instabilities. The Pact was re-launched in 1990 minus Chile but with a new member Venezuela.

Andean Pact

a regional alliance originally formed in 1969 with the general objective of establishing a COMMON MARKET. The current members of the Andean Pact are Peru, Chile, Ecuador, Columbia and Bolivia. By the mid 1980s, however, it had all but collapsed because of various economic and political instabilities. The Pact was relaunched in 1990 minus Chile but with a new member, Venezuela, renewing its commitment to the eventual introduction of a common market. See TRADE INTEGRATION.
References in periodicals archive ?
The second generation agreements with the Andean Pact countries were known as cooperation agreements.
By 1990, the Andean Pact process focused on redressing the social and economic woes caused in the region by the US-fueled drug trade.
In the 1980s the Andean Pact came to be named 'Andean Group', and since 1996 its official name was transformed into the current 'Andean Community.
The Andean region has also undergone institutional reform, sealed in 1996 with the Protocol of Trujillo, which substituted the Andean Pact with the Andean Community and created the Andean Integration System.
The Andean Pact nations--Bolivia, Peru, Columbia, Ecuador and Venezuela--have had their own "common market" for years though it has never functioned well for many reasons, economic and political.
Leveraging a GDP of some $30 billion, Ecuador also will take advantage of Andean Pact trade preferences to increase exports, supporting growth in packaging and other ink market segments.
Table 1 presents the results from four different scenarios, the accession to NAFTA of, Chile, the Andean Pact (Ecuador, Peru, Venezuela, Colombia, and Bolivia), Mercosur (Brazil, Argentina, Paraguay, and Uruguay), and a Western Hemisphere FTA including all countries in the first three groups.
Finally, NAI reported that in Latin America and the Caribbean, the outlook for investment is strong in Mexico, Brazil, Chile, Andean Pact countries and the Caribbean markets.
There are a handful of other agreements whose dispute settlement procedures changed over time--namely the Andean Pact, Central American Common Market (CACM), Common Market of the South (MERCOSUR), AFTA, and a few bilateral EFTA agreements.
For Argentina, this translates to a membership in the Mercosur, while Colombia is a member of the Andean Pact.
Fluid Containment Andina will manufacture single wall and double wall fiberglass underground tanks for the storage of petroleum and water for the countries of the Andean Pact nations, including Venezuela, Colombia, Ecuador and Peru.
Commerce Secretary Ron Brown illustrated the United States' good intentions, however vague, when he described the Denver Declaration as a plan "to weave NAFTA, MERCOSUR, the Andean Pact,(30) and the hemisphere's many multilateral and unilateral market-opening initiatives into a seamless tapestry of trade.