Founded in 1994, COMESA set goals of creating a free trade zone between members by 2000, establishing common tariffs by 2004 and monetary union by 2025.
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The 21-nation COMESA was created in 1993 with the goals of achieving regional free trade areas by 2000, common tariffs by 2004 and monetary union by 2025.
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A trade bloc of 13 Caribbean nations agreed to follow a worldwide trend and lower common tariffs on agricultural imports from outside the bloc over a four-year period.
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Having suffered a tumultuous devaluation in 1999, its government is understanding of its neighbour's plight, and it will back Argentina's request for a " temporary " waiver from Mercosur's common tariffs.
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The network consists of three standard gauge lines ( S10, S20, S30 ), operated by Arcobaleno tariff network and thus share a common tariff with each other and other regional transport operators.
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The presidents of the four former Soviet republics agreed to the deal on free movement of goods, capital and labor as well as common tariffs and customs policies at meeting last month.
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Establishing common tariffs, negotiating strategy with the United States and crafting a plan for fighting illegal drugs are among the top priorities at the meeting in the central Venezuelan city of Valencia.
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Mercosur went into effect on Jan . 1, 1995 when Argentina, Brazil, Paraguay and Uruguay agreed to eliminate most internal trade tariffs and to apply common tariffs on imports from outside the bloc.
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But in a declaration Saturday, they agreed members should move toward a common tariff system " according to their priorities, " to prepare the Caribbean for the FTAA and its target date of 2005.
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They also talked about the completion of a common market agreed last year with Belarus and Kazakhstan, which envisions the free movement of goods, capital and labor as well as common tariffs and customs.
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