？Read the advice about cooperation.？Choose the best word to fill each gap, from A, B, C or

？Read the advice about cooperation.

？Choose the best word to fill each gap, from A, B, C or D on the opposite page.

？For each question 19—33 mark one letter (A, B, C or D) on your Answer Sheet.

？One answer has been given as an example at the beginning.

CATSA

Gia Andina de Triconos (CATSA), a Bolivian joint venture of the U. S. Dresser Industries and local investors, which had based its investment (19) an allocation under the metalworking program, closed its doors after (20) to penetrate the Andean market after more than two years in operation.

The prospect of (21) access to the Andean market, plus protection provided by a 55 percent "ad valorem" common outer tariff on bits sourced from outside the bloc, made the sales outlook seem (22) . However, CATSA's "monopoly" position in Ancom proved specious. (23) the plant went on stream in 1974, the company was never able to export a single drill bit to the Andean market, and its local sales were (24) a state-owned petroleum company. This market was clearly (25) , since the operation had been based on exporting the bulk of the plant's 200-unit-per-month capacity to the Andean area.

CATSA could not penetrate the Ancom market for several reasons:

Although Ancom (26) a 55 percent common outer tariff on third-country imports, some Ancom countries had previously (27) LAFTA (Latin American Free Trade Association) tariff concessions, which take precedence over the Ancom tariffs.

Ancom members simply did not (28) the spirit of the metalworking agreement. After the installation of the CATSA facility, plants producing tricorne bits (29) in Peru and Venezuela. Under the metalworking program, participating (30) were committed to prohibiting new foreign investment in allocations of other Ancom countries. But on the question of new investment by local industry, the obligation was only not to encourage it, with no requirement to prevent it. (31) Venezuela, it has no commitment to limit local production or to honour the outer tariff, because it was not yet a member of Ancom when the metalworking agreement was signed and was thus not a (32) to the pact. Also, according to Bolivia, Colombia and Ecuador employed (33) obstacles to avoid applying the common outer tariff.

(19)

A．in

B．to

C．under

D．on