Financial Wealth Ideas

The main directions of the Andean Group are to: - A single economic policy, coordination of projects; - Harmonization of legislation: the control of the application of the measures taken within the Andean group of legal standards and their uniform interpretation; - The establishment of closer linkages between the regions and the Andean Group through the subsidiary bodies - the Union of Private Entrepreneurs and the Andean Institute of Labor. In the Andean Group created: - Andean Development Corporation (CAF), founded in 1968, serves as a development bank as an investment bank and the agency as an economic and financial assistance; - Andean Reserve Fund (ARF) - to manage part of foreign exchange reserves of member countries to maintain the balance of payments and the harmonization of fiscal and monetary policies; - Association of Telecommunications Commissions - is used in order to enhance cooperation, facilitate the development of telecommunication services in the region. In 1990, adopted the "Andean Strategy", which were formulated three main objectives: the development of the Andean economic space, the deepening of the international relations of the Andean Group, to the unity of Latin America. "Peace Act" passed in the same year, put forward as key challenges: the deepening of the integration process of the Andean countries, the realization of its distinct phases (free-trade area, customs union), as well as other measures necessary for the creation of the Andean Common Market. The Andean Pact earned special prominence in the history of the integration of developing countries - an attempt at once across the entire group to limit the impact of foreign monopolies. The action began in the early years of the Union, when asked by the tone of Chile (between the Government of the People's Unity), Bolivia and Peru. The main step in this direction was the introduction of a general regime in relation to foreign capital, trademarks, patents and licenses, to establish control over the activities of TNCs. These measures have stimulated the conversion of foreign enterprises set up after 1974 in the national or mixed. In establishing such an enterprise is not less than 15% of the shares subject to transfer to the State in whose territory it is situated. An important provision of the general regime, it was the imposition of restrictions on foreign companies out of profits. Each year, the country is allowed to carry no more than 14% of the amount of direct investment. At the same time, limited the scope of application of foreign capital: it is not allowed in the insurance, internal trade, transport, in the media. Since 1976, many countries relied factions mitigate some of the provisions of the general treatment in the Lima protocol.