Former Bolivian foreign minister visits headquarters in Venezuela

(Caracas, October 6, 1992).- An official visit to the CAF headquarters in Caracas was made by former Bolivian Foreign Minister Carlos Iturralde on October 5.

The reason for the visit was to comply with a directive of the Act of Barahona, which instructed the Andean Council of Foreign Ministers to prepare a proposal on the institutional review of the bodies which form the subregional integration system.

The minister members of the Andean Council entrusted this responsibility to former the Bolivian foreign minister based on his broad experience and fruitful contribution to the Andean integration process between 1989 and 1992 when he was foreign minister of his country.

During his stay in Caracas, Carlos Iturralde met with personalities in the highest decision-making levels of the Venezuelan government and private sector, in order to incorporate different opinions on effective participation by the leading economic agents in the integration process.

The Act of Barahona was signed in Cartagena, Colombia, on December 5, 1991 by the presidents of the five countries which form the Andean Group during the VI Meeting of the Andean Presidential Council.

The process of institutional review on which the former foreign minister is working will stimulate and modernize the integration bodies, given that the process is now part of the new economic model in favor in the continent, which over the last three years has made much more progress than during the previous 20 years.

During his visit, Iturralde praised CAF as a successful bank with a high degree of professional leadership, which has been capable of adapting to the constant changes in the international economy and of isolating itself from political volatility." In conclusion, he said the Corporation was undoubtedly, "the greatest achievement of 23 years of Andean integration."