An agreement signed at Cartagena in 1969 between Bolivia, Colombia, Ecuador, Peru, Venezuela, and Chile (which left in 1977). Its aim was to enhance the economic competitiveness of its members relative to the more developed economies of Latin America. In 1984 a new Andean peso was established to reduce dependency on the US dollar. The removal of tariff barriers during the 1990s was largely unsuccessful. The union has been largely ineffective owing to the political and economic instability of its members. In 1995 Peru and Equador were involved in a border war, and in 2006 Venezuela under Chávez withdrew its membership, though Chile became an associate member that year. Latin American Integration Association http://www.comunidadandina.orgThe official website of the Andean Community.
Latin American Integration Association
Subjects: Contemporary History (Post 1945).