The Group of 3 (G3) refers to a free trade agreement that existed between Mexico, Colombia, and Venezuela. The agreement, officially known as the “G3 Free Trade Agreement,” was established in 1995 and lasted until 2005. It aimed to promote economic cooperation and trade liberalization among the member countries.

Key features of the G3 Free Trade Agreement:

1. **Members:** The G3 included three Latin American countries:
– Mexico
– Colombia
– Venezuela

2. **Duration:** The G3 Free Trade Agreement was in effect for ten years, from 1995 to 2005.

3. **Objectives:** The primary objectives of the agreement were to foster economic integration, promote trade among the member countries, and create a framework for cooperation in various economic sectors.

4. **Trade Liberalization:** The agreement aimed to reduce and eliminate trade barriers, including tariffs and quotas, to facilitate the free flow of goods and services among the member nations.

5. **Economic Cooperation:** In addition to trade liberalization, the G3 Agreement included provisions for economic cooperation in areas such as investment, intellectual property, and other aspects of economic development.

6. **Changes in Membership:** Venezuela’s participation in the G3 became more complex in the early 2000s. In 2006, Venezuela announced its withdrawal from the Andean Community of Nations, which included the G3 Agreement. As a result, the G3 Agreement effectively ended, and the three countries pursued different trade arrangements.

7. **Subsequent Developments:** Following the end of the G3 Agreement, Mexico, Colombia, and Venezuela engaged in different trade initiatives. For example, Mexico pursued bilateral trade agreements, while Venezuela joined the Bolivarian Alliance for the Peoples of Our America (ALBA), which includes several Latin American and Caribbean countries.

It’s important to note that the geopolitical and economic landscape in the region can change, and there may have been developments since the end of the G3 Agreement in 2005. For the latest and most accurate information on trade agreements and economic relations involving Mexico, Colombia, and Venezuela, it is recommended to refer to official government sources or reputable international trade organizations.