It served as the basis for the multilateral trading system from 1947 until the formation of the WTO on 1 January, 1995. This free trade agreement was signed on January 1, 1995. This agreement calls for the total elimination of tariffs over a 10-year period.
Exceptions are particularly important in the agricultural sector.
Unlike most trade arrangements among Latin American Countries, the Group of Three goes beyond tariff provisions, and deals with such matters as intellectual property rights, services, goverment procurement, and investment. Sus miembros son Bolivia, Colombia, Ecuador, Per y Venezuela. Per firmaron el Acuerdo de Cartagena. Chile lo abandon en 1976. Las excepciones son especialmente importantes en el sector agr cola.