Group of Three (G3)

O  V  E  R  V  I  E  W

Members
Colombia, Mexico, and Venezuela.

Representative Market
153 million people.

Effective Date/Period
January 1, 1995/Minimum of 3 years, renewable for an indefinite period.

Objective
The elimination of tariff among the member nations over a ten year period. To add more members after implementation.

K  E  Y     I  S  S  U  E  S

Customs Surtaxes
The parties will be able to maintain existing customs rights for 5 & 1/2 years.

Single or Various Tariff Reduction Schedules
Single: Yes in 90 percent of the cases. Various: NA.

MFN Treatment for Tariffs
No.

Sectoral Safeguard: Exchange Rate Movements
Balance of Payments.

 SERVICES

Temporary Entry of Business Persons, Service Providers/Investors
Allows business people, investors, intra-company transfers and professionals temporary entry.

Professional Services
Broad coverage with exceptions and reservations.

Financial Services
Negotiations are not complete in this sector.

Transportation Services
NA.

Telecommunication Services
Access to basic telecommunications services.

MANUFACTURING/PRODUCTION

Drawbacks
Provisions allow the use of duty retention and duty drawback programs, subject to certain conditions.

Duty-free Zones and Cross-Border Assembly Plants
Goods must comply with the rules of origin.

National Treatment Provisions
Yes: (for goods and services) Technical Standards. No: Plant and Animal Health Standards.

Rules of Origin Requirements
Yes