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Economy & Business - September 2021

ECONOMIC HIGHLIGHTS

ANDEAN COMMUNITY | Cooperation agreement with EEU. The secretary general of the Andean Community (CAN), Jorge Hernando Pedraza, and Arman Shakkaliyev, a member of the board of economic competition and anti-monopoly regulation at the Eurasian Economic Commission (EEC), signed a new cooperation agreement on economic competition policies on 25 August. The EEC is the executive body of the Eurasian Economic Union (EEU), which groups states in Eastern Europe and Western and Central Asia. According to a CAN press release, the new agreement “will promote joint actions through the implementation of a permanent working group, the exchange of information and experiences between the two blocs, and other coordinated activities”. The approval of the agreement, according to Pedraza, is a significant success for the CAN as it enhances “the efficiency of the subregional market” and “the proper application of competition legislation”. He also emphasised that this agreement is part of efforts to establish closer relations with the EEU that go beyond trade by ensuring that free and fair competition is protected and promoted.

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