Andean Pact

Andean Pact

Andean Pact (Andean Subregional Integration Agreement) in relation with International Trade

In the context of trade organizations, Christopher Mark (1993) provided the following definition of Andean Pact (Andean Subregional Integration Agreement): A regional cooperation organization including Bolivia, Colombia, Ecuador, Peru, and Venezuela. Chile was a founding member, but withdrew in 1976. Members began serious efforts to reduce intra-regional trade barriers only in 1991. Colombia and Venezuela liberalized bilateral trade and adopted a common external tariff in January 1992, creating the Colombia- Venezuela Customs Union. Agreement was signed in March 1993 among all members except Peru to establish a customs union by January 1994, with special treatment for Bolivia and Ecuador in implementing a common external tariff.

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See Also

  • International Organization
  • Foreign Relations
  • Intergovernmental Organization
  • Regional Organization
  • Regional Integration

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