Trade Bill to Provide Andean Preferences Passes

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Sunday, December 1, 1991
Volume: 
7
Issue: 
12
Abstract: 
On the eve of the Congressional recess, both houses approved by voice vote the conference agreement on a bill, HR 1724, that will provide trade preferences to Andean countries. The new law extends to them the preferences that are contained in the Caribbean Basin Economic Recovery Act. The purpose of the Andean trade preferences is to facilitate the expansion of legal exports, so that the peasants that grow cocaine and illegal narcotics will have more incentive and a market to which that can sell legitimate commodities. The expansion of opportunities to export to the U.S. was promised to the Andean countries on February 15, 1990 by President Bush.