![regional economic integration blocs regional economic integration blocs](http://image.slideserve.com/327437/chapter-8-regional-economic-integration46-l.jpg)
Since its creation, ALBA created a number of regional companies. Members consist of Antigua and Barbuda, Bolivia, Cuba, Dominica, Ecuador, Nicaragua, Saint Vincent and the Grenadines, and Venezuela.
#Regional economic integration blocs free
Originally named the Bolivarian Alternative for the Americas with the mission of serving as an “antidote of the U.S.-backed Free Trade Area of the Americas,” the name was changed in 2009. ALADI consists of four governing bodies: the Council of Ministers of Foreign Affairs, the Conference of Evaluation and Convergence, the Committee of Representatives, and the General Secretariat.ĪLBA: Known as La Alianza Bolivariana para los Pueblos de Nuestra América, or the Bolivarian Alliance for the Americas, ALBA was founded in 2004 by Venezuelan President Hugo Chávez as an alternative to the Free Trade Area of the Americas. One regional agreement allows central banks to grant credit lines to one another, which simplifies commercial transactions between member countries. Member countries can participate in regional-scope agreements, which include all members, as well as partial-scope agreements between two or more members. The newer, more flexible organization functions as an umbrella for other regional bodies such as MERCOSUR and the Andean Group.ĪLADI has a regional tariff preference agreement, allowing members to grant lower tariffs to one another, beginning at 20 percent. A decade later, LAFTA was replaced by ALADI, which now has 14 members, including all 11 members from LAFTA as well as Cuba, Nicaragua, and Panama. In 1970, LAFTA incorporated Bolivia, Colombia, Ecuador, and Venezuela. LAFTA sought to create a free-trade zone in Latin America, but in reality was limited in scope-it included goods, but not services, and did not coordinate policy. The group emerged from the Latin American Free Trade Association (LAFTA), founded in 1960 by Argentina, Brazil, Chile, Mexico, Paraguay, Peru, and Uruguay. ALADI establishes trade regulations, regional tariffs, and trade agreements between member countries. However, unlike CARICOM, the ACS does not negotiate trade agreements as a bloc, instead functioning as a zone of cooperation.ĪLADI: La Asociación Latinoamericana de Integración, or the Latin American Integration Association, seeks regional economic integration with the goal of a common market. The body holds ministerial meetings annually and ACS committees meet throughout the year to discuss trade, transport, tourism, and disaster-risk reduction in the region. The headquarters are located in Port of Spain, Trinidad and Tobago. There are 18 observer states from the Americas, Asia, Europe, and the Middle East.
![regional economic integration blocs regional economic integration blocs](https://www.g20-insights.org/wp-content/uploads/2019/05/Bildschirmfoto-2019-06-14-um-15.14.14.png)
The associate members are Aruba, France (representing French Guiana, Guadeloupe, and Martinique), and Turks and Caicos. Vincent & the Grenadines, Suriname, Trinidad and Tobago, and Venezuela.
![regional economic integration blocs regional economic integration blocs](https://assets.weforum.org/editor/3wI3-MQpczTGV_wulyKFDJReqx08QfU-aIl9WFhZvOI.jpg)
The ACS consists of 25 member states: Antigua & Barbuda, the Bahamas, Barbados, Belize, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, St. ACSĪCS: Founded in 1994, the Association of Caribbean States was created in response to the growth of regional trade blocs, intended to liberalize trade and promote regionalism among countries that had been historically isolated from one another. Countries bordering the Pacific are moving to pursue closer alliances with Asian trade partners, some organizations seek to deepen Latin American integration, and others hope to coordinate policy and common interests among smaller countries. With an eye on regional trade and tariffs, some groups hope to eventually expand their reach to achieve common markets in Latin America. Given the proliferation of so many organizations, summits, and integration efforts over the past few decades, some have questioned which groups can have a real impact, especially those with conflicting or overlapping goals. AS/COA Online has put together a list of integration organizations in Latin America, explaining what they do and the significance of each one. Updated MaWhen following current events in Latin America, it’s easy to confuse the jumble of acronyms and abbreviations of the region’s multilateral organizations.