The Cartagena Agreement of 1969, which provided for economic cooperation among a group of five Andean countries; predecessor to the Andean Community.
A group originally of five Latin American nations formed to found a free trade area. In 1978 the group set up an Andean Reserve Fund to help nations with balance of payments problems. The group widened in 1988 and the fund became a Latin American Reserve Fund. Aims to develop economic and social integration. Member nations are Bolivia, Colombia, Ecuador and Venezuela. Peru is an observer member. Based in Lima.
Intended to eventually comprise a completely free economic zone for goods, capital and labour. This pact covers Venezuela, Colombia and Bolivia. Peru and Ecuador. They aim to have a common external tariff (making it a customs union.)