Andean Pact

Also found in: Dictionary.

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.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

Mentioned in ?

References in periodicals archive ?

The second generation agreements with the Andean Pact countries were known as cooperation agreements.

THE EUROPEAN UNION'S RELATIONS WITH LATIN AMERICA

By 1990, the Andean Pact process focused on redressing the social and economic woes caused in the region by the US-fueled drug trade.

Beyond war and revolution: Dramatic developments in the Andean Region

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.

Integracion regional y cooperacion sur-sur en materia de salud en America Latina y el Caribe

The preceding amendments were of a more limited scope and essentially addressed questions of adherence and withdrawal." John Pate, Introduction to Andean Pact: Official Codified Text of the Cartagena Agreement Incorporating the Quito Protocol, May 25, 1988, 28 I.L.M.

The Union of South American Nations: the new(est) regionalism in Latin America

Nongovernmental groups that track these negotiations learned that the United States in June had forced the negotiators of the Andean Pact nations to enter a secret agreement of confidentiality about all phases of the negotiating details.

Globalization proceeds without practical ethical guides; Catholics need to work on complicated issues of world trade

And Colombia, through the Andean Pact, enjoys good access to both Europe and North America.

Latin American ink market recovers: the overall Latin American ink market grew at least 3 percent in 2003, and indications are that 2004 will show even greater growth

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.

NAI releases 2003 Real Estate Planning Guide

He finds that by the end of the period under study, Latin America had entered a condition of widespread stable peace, and it was on the brink of evolving into two pluralistic security communities (MERCOSUR and the Andean Pact).

Zones of Peace in the Third World: South America and West Africa in Comparative Perspective

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.

The Politics of Dispute Settlement Design: Explaining Legalism in Regional Trade Pacts

For Argentina, this translates to a membership in the Mercosur, while Colombia is a member of the Andean Pact.

Free Trade in South America: A Tale of Two Countries' Economic Growth (or Decline?)