EEC/Andean Pact agreement: cooperation framework agreement

Parliament approved the conclusion of a cooperation agreement between the Community and the countries of the Andean Pact (Bolivia, Ecuador, Peru, Colombia and Venezuela). It made the point, however, that unless the funding set aside for this agreement was commensurate with the opportunities it offered, the agreement would remain a dead letter and would not deliver what was expected of it. The agreement paved the way for the broadest possible trade and economic cooperation (economic, industrial, scientific, technological, commercial and socio-cultural). It raised the possibility of cooperation in the new technology sectors such as IT and telecommunications. It looked at ways of cooperating in sectors of common interest such as financial institutions, investment, agriculture, forestry and the countryside, fishing, mines, energy, tourism, transport, the environment, biodiversity and the fight against drugs. It stressed the need to promote the social rights of the most disadvantaged, to give technical assistance in the areas of integration and regional cooperation and it sought to give a fresh boost to reciprocal trade. It contained an evolutionary clause allowing the scope of cooperation to be widened if need be. The cornerstone of the agreement was of course the 'democracy clause', that is to say cooperation between the Community and the Andean Pact was based on respect for the principles of democracy and human rights which informed the domestic and foreign policies of both parties. �