US Andean Trade Agreement

The US-Andean Trade Agreement was a pact that aimed to reduce tariffs and trade barriers between the United States and five South American countries: Colombia, Ecuador, Peru, Bolivia, and Venezuela. By lowering duties on goods like textiles, agriculture, and manufactured products, the agreement sought to promote economic growth and strengthen trade relations. It encouraged investment and created new market opportunities for businesses in the region and the US. The agreement evolved over time, with some parts replaced or updated as relations and economic priorities changed. Its overall goal was to foster closer economic integration and development among these nations.