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Foreign Investment Climate Within The Andean Community And Business Opportunities

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Chapter Summary

In March 1991 the Andean Commission adopted Decision 291, superseding earlier decisions regarding foreign investment. The current legal norms for the protection of intellectual property rights in all four countries of the Andean Community are found in two decisions issued by the Andean Commission in the early 1990s and two subsequent decisions. Decision 584 of the Council of Andean Ministers of Foreign Relations establishes a legal framework to protect the health and welfare of workers within the Andean Community. With an estimated 25 percent of the planets biodiversity, the Andean region has a particular interest in protecting the environment and encouraging the implementation of viable plans for sustainable development. Andean Commission Decision 284 contains the uniform rules for preventing or correcting distortions to competition in trade caused by export restrictions. European Union was the most important source of foreign direct investment in the Andean Community during the 1990s.

Keywords: Andean Community; European Union; foreign direct investment; legal framework; sustainable development



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