Pacific Alliance – A New Trading Bloc

6 June 2012

 

The new Alliance includes Chile, Colombia, Mexico, and Peru, and are aiming others to join, in particular Panama and possibly Costa Rica.

 

The Latin America knows several forms of ambitious economic and political integration blocs in recent years, from which we count:

– Latin American Integration Association (known as ALADI or, occasionally, by the English acronym LAIA)

– Central American Integration System (Spanish: Sistema de la Integración Centroamericana SICA)

– Mercosur or Mercosul (Spanish: Mercado Común del Sur, Portuguese: Mercado Comum do Sul, Guaraní: Ñemby Ñemuha, English: Common Southern Market)

– The Union of South American Nations (Dutch: Unie van Zuid-Amerikaanse Naties – UZAN, Portuguese: União de Nações Sul-Americanas – UNASUL, Spanish: Unión de Naciones Suramericanas – UNASUR)

– The Community of Latin American and Caribbean States (Spanish: Comunidad de Estados Latinoamericanos y Caribeños, CELAC, Portuguese: Comunidade de Estados Latino-Americanos e Caribenhos, French: Communauté des États Latino-Américains et Caribéens)

– The Andean Community (Spanish: Comunidad Andina – CAN)

Advertisement

UNASUR Announced the South American Development Bank

18 May 2012, Buenos Aires

 

The Union of South American Nations (UNASUR) announced that the South American Development Bank (o Banco del Sur) should be operational during the second half of 2012.

 

The new bank is intended to complement existing regional development banks like the Andean Development Corporation (CAF) and the Inter-American Development Bank (IDB).