Latin American Economic System

The Latin American Economic System (short SELA from Spanish: Sistema Económico Latinoamericano y del Caribe; Portuguese: Sistema Econômico Latino - Americano e do Caribe; French: Système Economique Latinoaméricain et Caribéen, English: Latin American and Caribbean Economic System) is an intergovernmental regional organization with based in Caracas, Venezuela, which was founded on October 17, 1975 in Panama.


The objectives of SELA are the promotion and coordination of common economic positions and policies in Latin America and the Caribbean with other countries and international organizations. Furthermore, the cooperation and integration between the countries of Latin America and the Caribbean should be strengthened.


The supreme decision-making body is the SELA Latin American Council. It consists of one representative from each Member State, meets annually and is responsible for decisions adopted unanimously.

The Permanent Secretariat is the technical administrative body, led by a Permanent Secretary, who is elected by the Council for four years.

The committees are flexible cooperation bodies consisting of two or more Member States and promote joint programs and projects in specific areas.


28 countries in Latin America and the Caribbean are members of the organization: