G3 Free Trade Agreement

The Group of Three (G3 ) was originally a free trade agreement between Colombia, Mexico and Venezuela, which entered into force on 1 January 1995 and created an expanded market with 149 million consumers and a GDP of 486.5 billion U.S. dollars. Venezuela finally joined in 2006 out of the "Group of Three " to instead to become a full member of the Mercosur.

The agreement was a reduction in tariffs by 10% over ten years, starting in 1995 - established for the trade of goods and services between the three countries. It creates a connection between NAFTA and the Andean Community. The agreement is not limited to the liberalization of trade, but also includes issues such as investment, services, government purchases and provisions to fight against unfair competition and intellectual property law.

  • Free Trade Zone
283712
de