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The Latin American Free Trade Association, LAFTA, (later transformed into the Latin American Integration Association, Spanish: Asociación Latinoamericana de Integración, Portuguese: Associação Latino-Americana de Integração) was created in the 1960 Treaty of Montevideo by Argentina, Brazil, Chile, Mexico, Paraguay, Peru, and Uruguay.
A maquila in Mexico. A maquiladora (Spanish: [makilaˈðoɾa]), or maquila (IPA:), is a word that refers to factories that are largely duty free and tariff-free.These factories take raw materials and assemble, manufacture, or process them and export the finished product.
The main economies of Latin America are Brazil, Argentina, Colombia, Mexico, and Chile. These economies have been given positive outlooks for 2017 by Morgan Stanley. [7] The Latin American economy is largely based on commodity exports, therefore, the global price of commodities has a significant effect on the growth of Latin American economies.
Latin American countries such as Argentina, Brazil, and Mexico (and to a lesser extent Chile, Uruguay and Venezuela) had the most success with ISI. [ 20 ] While the investment to produce cheap consumer products may be profitable in small markets, the same cannot be said for capital-intensive industries, such as automobiles and heavy machinery ...
The way that the manufacturing outsource option works is that a foreign company essentially hires the maquiladora to manufacture the foreign company's products for them in Mexico (much like in a "contract manufacturing / subcontract" situation) but with an inexpensive Mexican workforce that utilizes the equipment, tooling, and processes of the ...
Both Argentina and Mexico share a common history in the fact that both nations were once part of the Spanish Empire.During the Spanish colonial period, Mexico was then known as Viceroyalty of New Spain and the capital being Mexico City while Argentina was at first governed from the Viceroyalty of Peru in Lima and in 1776, Spain created the Viceroyalty of the Río de la Plata where the capital ...
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This eventually led to the founding of Mercosur by Brazil, Paraguay, Uruguay and Argentina in 1991 to promote free trade and the fluid movement of goods, people, and currency. Venezuela joined Mercosur in 2012 [7] and Bolivia is an acceding member. [8] [9] In 1995 Mexico, Colombia and Venezuela created the G3 Free Trade Agreement. Venezuela ...