LI5342.pdf

The Latin American Integration Association was established by the 1980 Montevideo Treaty, signed by 11 countries, including Argentina, Bolivia, Brazil, and Uruguay. The treaty aims to promote economic regional integration, solidarity, and cooperation among member countries, with the long-term objective of establishing a Latin American common market. The association is guided by principles of pluralism, convergence, flexibility, differential treatments, and multiple forms of agreements. Member countries have established an area of economic preferences, including regional tariff preferences, regional scope agreements, and partial scope agreements, to fulfill the association's basic duties of promoting reciprocal trade, economic complementation, and market expansion.