A Council Decision concerning the conclusion of the Framework Agreement on Cooperation between the European Community and the Cartagena Agreement member countries has recently been published. This Decision approves, on behalf of the Community, the Agreement, which will enter into force one month following its ratification by both Parties. The Cartagena member countries are the Republics of Bolivia, Colombia, Ecuador, Peru and Venezuela. The agreement is based on respect for democratic principles and human rights and aims to develop and encourage relations between the two regions. In order to achieve this objective, the Parties have resolved to promote, in particular, the development of cooperation relating to trade, investment, finance and technology, taking into account the special status of the Cartagena member countries as developing countries. Other aims include the promotion, intensification and consolidation of the process of integration in the Andean sub-region. The main areas covered by the agreement include: - Economic cooperation; - Trade cooperation development; - Industrial cooperation; - Investment; - Cooperation between financial institutions; - Scientific and technological cooperation and development. Cooperation in other areas outlined in the agreement include, inter alia, mining, energy, transport, information technology and telecommunications, tourism, environment, biodiversity, health, social development, combating drug abuse, fisheries, agriculture and public administration. The contracting parties, in order to assist the implementation and coordination of this agreement, have agreed to maintain the Joint Committee, and Subcommittees on Science and Technology, Industrial Cooperation and Trade Cooperation, which were established pursuant to the 1983 Cooperation Agreement.
Bolivia, Colombia, Ecuador, Peru, Venezuela