Regional Economic Organizations in Latin America
Latin American Economic System (SELA)
SELA (Latin American Economic System) is a regional organization based in Caracas, Venezuela, consisting of 27 countries in Latin America and the Caribbean. Created on October 17, 1975, through the Panama Convention, SELA is currently composed of Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Colombia, Costa Rica, Cuba, Chile, Ecuador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Dominican Republic, Suriname, Trinidad and Tobago, Uruguay, and Venezuela. SELA is one of the four main bodies that make up Latin American unity.
- Promote a system of consultation and coordination to agree on common positions and strategies for Latin America and the Caribbean on economic matters, with other countries, groups of nations, international forums, and organizations.
- Promote cooperation and integration among countries in Latin America and the Caribbean.
Latin American Integration Association (LAIA)
The Latin American Integration Association (LAIA) is a regional integration organization in Latin America. Created on August 12, 1980, by the Treaty of Montevideo, it replaces LAFTA. Its membership is open to any country in Latin America:
- Argentina (1980)
- Bolivia (1980)
- Brazil (1980)
- Chile (1980)
- Colombia (1980)
- Cuba (1999)
- Ecuador (1980)
- Mexico (1980)
- Paraguay (1980)
- Peru (1980)
- Uruguay (1980)
- Venezuela (1980)
- Panama (2009)
- Dominican Republic (2010)
- Costa Rica (2010)
- Guatemala (2010)
- El Salvador (2010)
- Nicaragua (2010)
ALBA-TCP: Bolivarian Alliance for the Americas
ALBA-TCP (Bolivarian Alternative for the Peoples of Our America – Treaty of Commerce of the People), sometimes unofficially called the Bolivarian Alliance for the Americas, but more commonly known simply as ALBA, is an integration platform focused on the countries of Latin America and the Caribbean. It emphasizes the fight against poverty and social exclusion based on leftist doctrines. It takes the form of collaborative and complementary political, social, and economic cooperation between Latin America and the Caribbean, initially promoted by Cuba and Venezuela as the counterpart of the Free Trade Area of the Americas (FTAA), promoted by the United States.
Member Countries:
- Antigua and Barbuda
- Bolivia
- Cuba
- Dominica
- Ecuador
- Nicaragua
- Saint Vincent and the Grenadines
- Venezuela
Southern Common Market (Mercosur)
The Southern Common Market (Mercosur) is a customs union comprising Argentina, Brazil, Paraguay, and Uruguay. Partner countries include Chile, Colombia, Ecuador, and Peru. Bolivia and Venezuela are in the process of incorporation. It was created on March 26, 1991, with the signing of the Treaty of Asunción for the free movement of goods, services, and factors of production across countries; the establishment of a common external tariff; the adoption of a common trade policy; macroeconomic and sectoral policy coordination among States parties; and the harmonization of laws to ensure the strengthening of the integration process.
Economic Commission for Latin America (ECLAC)
The Economic Commission for Latin America and the Caribbean (ECLAC) is the agency of the United Nations responsible for promoting economic and social development in the region. Its activities are concentrated in the field of economic research. The Commission’s headquarters is in Santiago, Chile. It coordinates two subregional offices: one for Central America, headquartered in Mexico City, with contributions by leading economists such as Iphigenia Martínez; and one for the countries of the Caribbean, located in Port of Spain (Trinidad and Tobago). It has offices in Bogotá, Lima, Brasilia, Buenos Aires, and a liaison office in Washington D.C. (since 1950).
Andean Community (CAN)
The Andean Community (CAN) is a community of four countries that have a common goal: achieving comprehensive, more balanced, and independent development through Andean, South American, and Latin American integration. The Andean integration process began with the signing of the Cartagena Agreement on May 26th, 1969. It consists of Bolivia, Colombia, Ecuador, and Peru, in addition to the organs and institutions of the Andean Integration System (SAI). Before 1996, it was known as the Andean Pact or the Andean Group.