Andean Pact

O  V  E  R  V  I  E  W

Type of Agreement
Free Trade Area with common external tariff.

 

Members
Bolivia, Colombia, Ecuador, Peru, and Venezuela.

Representative Market
103 million people.

Effective Date/Period
May 25, 1988/Indefinite.

Objective
To establish free trade area, a common external tariff, and eventually a full common market.

K  E  Y     I  S  S  U  E  S

 EXPORTERS

Customs Surtaxes
Not included are fees corresponding to the cost of services provided.

Single or Various Tariff Reduction Schedules

Single: NA. Various: Yes.

MFN Treatment for Tariffs

Yes.

Sectoral Safeguard: Exchange Rate Movements

Yes.

SERVICES

Temporary Entry of Business Persons, Service Providers/Investors

No information provided.

Professional Services

Yes.

Financial Services

Yes.

Transportation Services

Yes.

Telecommunication Services
Yes

MANUFACTURING/PRODUCTION-

Drawbacks
No, drawback is only allowed for exports to third country.

Duty-free Zones and Cross-Border Assembly Plants
No.

National Treatment Provisions
Yes: Technical Standards and Plant and Animal Health Standards.

Rules of Origin Requirements

Yes.