Latin American Economic System

Latin American and Caribbean intergovernmental organization Not to be confused with Latin American Integration Association.

Latin American Economic SystemSistema Económico Latinoamericano y del Caribe
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Member nations in Yellow
Administrative center	Caracas, Venezuela
Website http://www.sela.org/

The Latin American and the Caribbean Economic System, officially known as Sistema Económico Latinoamericano y del Caribe (SELA), is an organization founded in 1975 to promote economic cooperation and social development between Latin American and the Caribbean countries. In the early 1990s, its representatives consisted of members from 28 countries and took part in the General Agreement on Tariffs and Trade (GATT) negotiations, which led to a new global agreement on restrictions on trade and established the World Trade Organization (WTO).

The Latin American Council represents SELA's policy-making body and meets once a year. The main administrative body is the secretariat, located in Caracas, Venezuela.

Objectives

International relations scholar Sheldon Liss, in Diplomacy and Dependency: Venezuela, the United States, and the Americas (1978) described the initial objectives of SELA:

SELA, composed of twenty-five member states, and to which Venezuela contributes the largest share (17 per cent) of the budget, hopes to: restructure international commerce in basic commodities in order to raise developing states' export values, improve trade conditions, stimulate industrial development, control foreign-based transnational corporations, create Latin American multinational companies which will use to better advantage the human, technological, and financial resources of the area, sponsor organizations to process and market raw materials, improve the negotiating power of the member states, and plan joint economic strategies.
SELA members deem it likely that Venezuelan oil wealth will permit them easy access to petrodollars for use as finance capital. (pp 271, 2.)

Member countries

External links

Latin American Economic System – Official Website

v t e Pan-Americanism
History	Spanish American wars of independence Decolonization of the Americas Latin American integration North American integration Patria Grande Simón Bolívar José de San Martín Lucas Alamán Inter-American Commission of Women United States involvement in regime change in Latin America
Organizations	Amazon Cooperation Treaty Organization (ACTO) Andean Community (CAN) Association of Caribbean States (ACS) Bolivarian Alliance for the Americas (ALBA) Caribbean Community (CARICOM) Central American Integration System (SICA) Community of Latin American and Caribbean States (CELAC) Contadora group Contadora support group Forum for the Progress and Integration of South America (PROSUR) Latin American Economic System (SELA) Latin American Integration Association (ALADI) Lima Group (LG) Mercosur Organization of American States (OAS) Organisation of Eastern Caribbean States (OECS) Organization of Ibero-American States (OEI) Pacific Alliance Petrocaribe Rio Group Union of South American Nations (UNASUR) United Nations Economic Commission for Latin America and the Caribbean (ECLAC, CEPAL) United States Pirate Party (USPP)
Projects	Andean passport CARICOM passport CARICOM Single Market and Economy CARIPASS Central America-4 Border Control Agreement Central America-4 passport Eastern Caribbean Currency Union Initiative for the Integration of the Regional Infrastructure of South America (IIRSA) Interoceanic Highway SUCRE
Institutions	Andean Parliament Bank of the South Caribbean Court of Justice Caribbean Development Bank Central American Parliament Development Bank of Latin America and the Caribbean (CAF) Inter-American Development Bank Latin American Parliament Mercosur Parliament South American Parliament
Free trade areas	Caribbean Free Trade Association (CARIFTA) CARIFORUM Dominican Republic–Central America Free Trade Agreement (CAFTA-DR) Economic Partnership Agreements Free Trade Area of the Americas G3 Free Trade Agreement United States–Mexico–Canada Agreement (USMCA)
Events	Pan American Games Pan-American Congress

v t e Regional organizations
Bodies	African Union Amazon Cooperation Treaty Organization Arab League Arctic Council Association of Southeast Asian Nations (ASEAN) Asia Cooperation Dialogue Asia Council Asia-Europe Foundation Asia-Pacific Economic Cooperation Assembly of European Regions Association of Caribbean States AUKUS Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation Bolivarian Alliance for the Peoples of Our America – Peoples' Trade Treaty British–Irish Council Bucharest Nine Caribbean Community (CARICOM) Central American Integration System Central European Free Trade Agreement Central European Initiative Collective Security Treaty Organization Commonwealth of Independent States Commonwealth of Nations Community for Democracy and Rights of Nations Community of Democratic Choice Community of Latin American and Caribbean States Comprehensive and Progressive Agreement for Trans-Pacific Partnership Council of the Baltic Sea States Council of Europe Craiova Group East African Community Economic Community of West African States Economic Cooperation Organization Eurasian Economic Union European Political Community European Union Forum for the Progress and Integration of South America GUAM Organization for Democracy and Economic Development Gulf Cooperation Council Indian Ocean Rim Association Liptako–Gourma Authority Latin American Integration Association Latin American Parliament Lublin Triangle Melanesian Spearhead Group Mercosur Nordic Council North Atlantic Treaty Organization (NATO) Open Balkan Organisation of Eastern Caribbean States Organization for Security and Co-operation in Europe Organization of American States Organization of Ibero-American States Organization of the Black Sea Economic Cooperation Pacific Alliance Pacific Islands Forum Paneuropean Union Polynesian Leaders Group Regional Comprehensive Economic Partnership Shanghai Cooperation Organisation South Asian Association for Regional Cooperation South Atlantic Peace and Cooperation Zone Southern African Development Community TAKM Three Seas Initiative Trilateral Cooperation Secretariat Organization of Turkic States Union of South American Nations Visegrád Group West Nordic Council Western Balkans Quad
Topics	Regional integration Regional organizations by population Regionalism (international relations)

Regional organizations

Bodies

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Objectives

Member countries

See also

External links