Venezuela withdraws from CAN

In a step backwards for regional integration, Venezuela withdrew its membership in the Andean Community of Nations. The move, officially announced five years ago, eliminates a number of trade benefits between Venezuela and the other CAN members (Colombia, Ecuador, Peru, Bolivia). However, Venezuela is working on temporary bilateral agreements with Colombia and Peru and already has agreements through ALBA with Bolivia and Ecuador.

Chavez left the group because Peru and Colombia negotiated trade agreements with the US. Venezuela had expected to be a full member of Mercosur by this time. However, that membership remains held up by the Paraguayan Congress.

Interestingly, the only other country to withdraw from CAN was Chile under Pinochet in 1976. Pinochet complained that Chile's economic policy was incompatible with the other countries in the organization.

Coverage: EFE, LatAm Dispatch, FT

Source: http://www.bloggingsbyboz.com/2011/04/venezuela-withdraws-from-can.html

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