EU-Andean Community Ministerial Meeting, Panama, 12.02.98

The Ministers for Foreign Affairs of the Andean Community and the European Union met in Panama on 12 February 1998 on the occasion of the VIIIth Institutionalized Ministerial Meeting between the European Union and the Rio Group. The meeting counted with the presence of Panama as observer.

During this meeting, the Ministers recalled that relations between the EU and the Andean Community are based on respect for the principles of constitutional democracy, political pluralism and human rights. They stressed the importance of the processes of peace and democracy.

The Ministers welcomed the finalization of the ratification process of the Framework Cooperation Agreement between the European Community and the Andean Community and its member countries which should allow its rapid entry into force. The Ministers also took pleasure in noting the increasing business opportunities associated with the rise in both intraregional and interregional trade and investment. They underlined the importance of legal security in order to promote investments. In this context, both Delegations emphasized the importance of the Euro-Andean Business Forum, that will take place in London in May 1998, with the objective to boost and underpin mutual cooperation in the economic field. They stressed their willingness to create the Business Council, as envisaged in the Framework Cooperation Agreement.

• Primary Source

EU: EEAS: Andean Community and the European Union https://eeas.europa.eu/diplomatic-network/andean-community_en

---