|
THE GROUP OF THREE (G-3)
Colombia, Mexico and Venezuela signed in June 1994 a Free Trade Agreement with the basic purpose of strengthening integration between the three countries and promoting the economic and social development processes of Latin America.
The specific objectives of the Agreement are: strengthening the existing links between the three countries and the cooperation between their peoples; deepening the economic relationship of the member states by creating a larger and more secure market for the trade in goods and services produced in their territories; establishing clear and mutually beneficial rules governing commercial exchange in order to reduce the distortions brought about by the exchange itself; promoting productive and investment activities and the development and exchange of technology with the aim of increasing their companies' competitiveness in global markets; improving the access of our products in international markets, thus achieving sustainable development that creates new job opportunities and improves the labor conditions and quality of life in each of the three countries.
The Agreement covers the following topics: Tariff Reduction Program, Market Access, Rules of Origin, Technical Standardization, SPS Measures, Trade in Services, Government Procurement, Foreign Investment, Intellectual Property, Market-wide Trade Practices (Safeguards, Competition, Unfair Trade Practices), Dispute Settlement, and International Affairs.
The Agreement provides for the elimination of all tariffs and non-tariff barriers on goods beginning on July 1, 2004.
For more information click here.
|
