The Emerging Market of South America

Paper Summary:

This paper presents an overview of the on-going attempt at regional and economic development in Latin America. The paper looks at the structure of the organization devoted to this attempt, its membership, its objective, programs and projects implemented to promote these objectives, and some of the problems and obstacles these countries face in their attempt at cooperation and development.

From the Paper:

"The first attempt at the regional development of Latin America through the cooperation of the member states was through the Latin American Free Trade Association, set up in 1960. On 12 August 1980, the foreign ministers of the 11 member countries of the Latin American Free Trade Association signed an agreement in Montevideo, Capital of Uruguay. This announced the establishment of the Association for the Latin American Integration. The treaty officially entered into force on 18 March 1981. On the same day, the Latin American Free Trade Association stopped its activities."

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