Latin American Economic Organizations and Trade Agreements
Latin American Economic Organizations and Trade
System of Latin American and Caribbean Economic (SELA)
The System of Latin American and Caribbean Economic (SELA) is a regional intergovernmental organization headquartered in Caracas, Venezuela, composed of 28 countries in Latin America and the Caribbean. Created on October 17, 1975, through the Panama Convention, SELA currently comprises: Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Colombia, Costa Rica, Cuba, Chile, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Dominican Republic, Suriname, Trinidad and Tobago, Uruguay, and Venezuela.
Latin American Integration Association (ALADI)
The Latin American Integration Association (ALADI) is the oldest integration forum in Latin America. Its origins date back to 1960 with the creation of the Latin American Free Trade Association (LAFTA), which was amended in 1980 with the Treaty of Montevideo, giving birth to ALADI. ALADI encompasses the following:
- Andean Community (CAN): Bolivia, Colombia, Ecuador, Peru, and Venezuela.
- Mercosur: Argentina, Brazil, Paraguay, and Uruguay.
- Chile
- Mexico
Group of Three (G3)
The Group of Three (G3) refers to the members of the Free Trade Agreement between Mexico, Colombia, and Venezuela, active between 1995 and 2006.
Free Trade Area of the Americas (FTAA)
The Free Trade Area of the Americas (FTAA) was an initiative to expand the North American Free Trade Agreement (NAFTA) to include all mainland American states, excluding Cuba. Following the 2005 Summit of the Americas in Mar del Plata, the FTAA encountered significant challenges and is now widely considered a defunct project.
Economic Commission for Latin America and the Caribbean (ECLAC)
The Economic Commission for Latin America and the Caribbean (ECLAC), a United Nations agency, promotes economic and social development in the region, focusing on economic research. It was established to foster economic growth in Latin America and the Caribbean based on capital investment and development.