Latin American Common Market

Marché commun latinoaméricain
Mercado Común Latinoamericano

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6 Jan 1965, by Eduardo Frei, President of the Republic of Chile, and publicized by F-XF1069 - Inter-American Development Bank (IDB). Summit Meeting, Apr 1967, Punta del Este (Uruguay), agreed that a wider Latin American Common Market be established by 1985 through merger of the then H-XH0151 - Latin American Free Trade Association (LAFTA) - currently, since 12 Aug 1980, Montevideo (Uruguay), D-XD2879 - Latin American Integration Association (LAIA) - and the 'Central American Common Market (CACM)'. A Coordinating Commission was set up in Aug 1967, Asunción (Paraguay), to devise methods for combining both organizations. The CACM collapsed in 1969, but a new F-XF6292 - Central American Common Market (CACM) was proposed in 1991. F-XF4530 - Sistema Económico Latinoamericano (SELA), set up 18 Oct 1975, Panama, reinforces regional cooperation.


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