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The goal of the LAFTA is the creation of a free trade zone in Latin America. It should foster mutual regional trade among the member states, as well as with the U.S. and the European Union. To achieve these goals, several institutions are foreseen: the council of foreign ministers; a conference of all participating countries; a permanent council
The terms of trade at this time, set by the United States, introduced the concept of "unequal exchange" in that the so-called "North" mandated prices that allowed them a greater return on its own resources than that of the "South's". Thus, although the export sector had grown during this time, certain significant economic and social issues ...
It was created on 12 August 1980 by the 1980 Montevideo Treaty, [1] [2] replacing the Latin American Free Trade Association (LAFTA/ALALC). Currently, it has 13 member countries, and any of the Latin American States may apply for accession.
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The Latin American and the Caribbean Economic System, officially known as Sistema Económico Latinoamericano y del Caribe (SELA), is an organization founded in 1975 to promote economic cooperation and social development between Latin American and the Caribbean countries.
* U.S., Brazil aim to double bilateral trade in 5 years * Brazilian real rises for second straight day * Latam recovery in doubt on fiscal woes, confidence shaky - poll * Colombia's congress ...
* Brazilian real, Mexican peso rise slightly * U.S.-China trade deal "potentially very close" - Trump By Shreyashi Sanyal and Sagarika Jaisinghani Nov 22 (Reuters) - Latin American assets edged ...