The economic system in Latin America and the Caribbean: A commitment to the development of the region’s nations

Abstract

This chapter looks at the Latin American Economic System (Sistema Económico Latinoamericano—SELA), which since 1975 includes 25 Latin American and Caribbean (LAC) nations which established a permanent system for intraregional economic and social cooperation, in order to coordinate and consult on the positions of those countries in relation to third countries and other international organizations. The origin, structure, institutions and functioning of SELA are addressed in the first sections. Then the chapter looks at specific areas of regional and extra-regional cooperation. These areas include economic and technical cooperation but also address the needs of small-and medium-sized businesses in LAC states.