On May 24, the governments of Colombia, Peru, Ecuador and Bolivia signed an Agreement for the Mutual Recognition of Authorized Economic Operators (AEO). The accord was signed by the customs directors from these countries to speed up foreign trade operations for customs users.

The underlying purpose of the agreement is to foster greater foreign trade between these countries and ensure a more efficient logistics chain among the Andean Community countries.

The signatory countries will be developing specific programs to achieve savings in logistics costs and times and increase their competitiveness.