REGIONAL ECONOMIC COOPERATION'S ANDEAN GROUP FOCUSED MAIN TARGETS OF GLOBAL MARKET

ANDEAN GROUP is one of the reputed firm operates in Latin America.This group,officially known as the Acuerdo de Cartagena and also known as the Group Andino or the Pacto Andino,aims to accelerate the harmonious development of its member states through economic and social integration.
The members of the group are Bolivia,Colombia, Ecuador,Peru and venezuela.The organization consists of a commission,a council,a junta,a parliament,a court of justice,a reserve fund and a development corporation.
ANCOM's main goals include the following.
1.The development of member countries through economic and social integration and cooperation.
2.The elimination of interregional trade barriers through gradual tariff reductions and a common external tariff.
3.The approval of a common approach to foreign investment.
4.The creation of Andean multinational enterprises.
5.The conclusion of basic agreements for industrial programs.

6.Business formulas:-
In 1992 the Andean pact became Latin America's first operating subregional free trade zone, with a total of 97 million consumers.The Andean pact is a much smaller entity than the Southern cone common market(MERCOSUR) and nearly insignificant in relation to the free trade area that has come into being under the North American Free Trade Agreement(NAFTA).

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