Prior to that, Chile had been one of the most protectionist economies in the world, ranking 71 out 72 in a 1975 Cato Institute and Fraser Institute annual report.[21] During the 1990s, Chile signed free trade agreements (FTA) with Canada, Mexico, and Central America. Chile also concluded preferential trade agreements with Venezuela, Colombia, and Ecuador. An association agreement with Mercosur—Argentina, Brazil, Paraguay, and Uruguay—went into effect in October 1996.