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Venezuela Evaluates Returning to Andean Community of Nations

By E.C.V. & ASOCIADOS - 19/09/2022

Venezuela is evaluating the possibility of returning to the Andean Community of Nations (CAN), according to teleSUR.

The television network headquartered in Caracas, Venezuela, informed that Venezuela’s Vice President Delcy Rodriguez spoke about the possibility with President Nicolas Maduro.

At the presentation of the Economy and Development Report of the Development Bank of Latin America (CAF) in Caracas, Rodríguez stated that the reestablishment of diplomatic relations with Colombia does not have merely commercial purposes but rather seeks to promote a broader productive integration between the two countries.

The Andean Community is a trade bloc of four countries -Bolivia, Colombia, Ecuador and Peru- created in 1969. Venezuela joined the pact in 1973 but withdrew in 2006 after Colombia and Peru signed Free Trade Agreements with the United States.

The Andean Community follows objectives such as

-Promote balanced and harmonious development of member countries in conditions of equity, through integration and economic and social co-operation.

-Accelerate growth and the generation of employment.

-Facilitate participation in regional integration of integration processes, designed to provide a gradual formation of a Latin American common market.

-Strengthen regional solidarity, and reduce existing differences in development between the member countries. 

By E.C.V. & ASOCIADOS - 19/09/2022
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