G3 Free Trade Agreement

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G3 Free Trade Agreement
The G-3 is a free trade agreement between ColombiaMexico, and Venezuela that came into effect on January 11995, which created an extended market of 149 million consumers with a combined GDP (Gross domestic product) of US$486.5 billion. The agreement states a ten percent tariff reduction over ten years (starting in 1995) for the trade of goods and services among its members. The agreement is a third generation one, not limited to liberalizing trade, but includes issues such as investmentservicesgovernment purchases, regulations to fight unfair competition, and intellectual property rights.
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