When the agreement was signed, the Ecuadorian delegation expressed the following reservations: the Economic Department (ECON) supported bilateral economic relations between the United States and Colombia in areas such as macroeconomics, trade, energy, telecommunications, finance, intellectual property rights, environment, labour, civil aviation, transportation, science and technology, economic development and infrastructure. The delegation of the Dominican Republic expressed explicit reservations about Article 31, on the grounds that the procedures established by the Havana Charter for preferential agreements had not served as an essential guide in their formulation and that they could lead to a policy of privileges contrary to the desire of the American people to offer each other mutual benefits. (Reservations at the time of signing) As it stated in the publication of its vote on Article 25 of the Bogota Economic Agreement on the amendment proposed by the Mexican delegation, Argentina wishes to include this in the minutes that it first approved the aforementioned text, on the basis that the text does not indicate that international treaties or agreements prevail over the constitutional texts of American countries. , and that foreign investments fall under a jurisdiction other than that of their own jurisdictions. It also assumes that the terms expressed with respect to the above articles apply to all relevant provisions of the agreement. Fourth, Article 31 must be understood in the sense that preferences between Hispanic-American states are permitted, either for economic reasons – because of the need to develop their economies and because they belong to the same region – or because those preferences concern united states by special links based on a community of language, origin and culture. First, the principle, set out in the third article, of facilitating access to trade on equal terms must be interpreted in accordance with Article 31, whereby preferential agreements are authorized for economic development purposes. 9 This language used is a slight departure from the traditional language, particularly in the use of the word „price“ instead of the word „compensation.“ (Hackworth, Digest of International Law, Vol. Whiteman, Damages in International Law, Vol. II, 915.) The word „price“ is more often applied to a negotiated transaction, the point at which a willing buyer and a willing seller meet.
In this context, the word „compensation“ seems more appropriate. However, it seems difficult to justify the need for the agreement to provide for the payment of something that would be less than just compensation. Through this approach, ECLAC proposed to decentralise and create added value for the carrying out of economic studies on development, trade and integration projects as well as on technical cooperation projects. 2. Although, in accordance with the spirit of justice that unders florida, Article 22, paragraph 3, and Article 24, paragraph 1, the Mexican delegation is acting in accordance with the spirit of justice, because, in its current formulation, it could be interpreted as a restriction on the principle that foreigners and nationals are subject to the laws and tribunals of the country.