Agreement on Trade, Economic and Technical Cooperation between the Caribbean Community (CARICOM) and the
Government of the Republic of Colombia

 

The Caribbean Community (CARICOM) and the Government of the Republic of Colombia (hereafter called the Parties);

AWARE of the necessity to accelerate the Caribbean and Latin American integration process and of the significance accorded by the Parties to the various sub-regional integration processes, as a means of achieving greater international competitiveness of the Region and facilitating their full development;

TAKING INTO ACCOUNT the different levels of economic development between the Member States of CARICOM and Colombia;

DESIROUS of achieving a more dynamic, commercial and economic relationship between them;

CONSIDERING the advantage of formulating clear and accurate guidelines that permit their different economic entities greater involvement in the economic development of the Member States of CARICOM and Colombia;

HAVING REGARD TO the rights and obligations of Colombia under the Cartagena Agreement (Andean Group), the Montevideo Treaty 1980, that establishes the Latin American Integration Association (ALADI), which allows the conclusion of Partial Scope Agreements with other countries and integration areas of Latin America, and Resolution 2 of the Council of Ministers of Foreign Relations of the Contracting Parties of the said Treaty; to the rights and obligations of the Member States of CARICOM under the Treaty establishing the Caribbean Community; and also the rights and obligations of Colombia and those Member States of CARICOM which are Contracting Parties to the General Agreement on Tariffs and Trade (GATT);

DECIDING to establish closer trade and economic relations and promote greater technical cooperation between the Parties;

HEREBY undertake to implement this Agreement:

CHAPTER I

ARTICLE 1: OBJECTIVES

The fundamental objective of this Agreement shall be to strengthen the trade and economic relations and technical cooperation between the Parties through:

  1. the promotion and expansion of the sale of goods originating in CARICOM and Colombia with particular emphasis on exports from CARICOM States in the early stages of the implementation of this Agreement;
     
  2. the promotion and protection of investments aimed at taking advantage of the opportunities offered by the markets of the Parties and strengthening their competitiveness in the international market;
     
  3. the facilitation of the creation and operation of regional joint ventures;
     
  4. the development of technical and scientific cooperation activities which may be agreed upon between the Parties;
     
  5. the promotion of private sector activities, including business exchanges between the Parties.
Have you found this information useful ?
Please share your feedback below and help us improve our content.