Latin American Integration Association
The Latin American Integration Association ( Asociación Latinoamericana de Integración Spanish, Portuguese Associação Latino - Americana de Integração, short LAIA ) is an organization of several Latin American countries for economic cooperation and create a common market. The headquarters of the Organization is located in Montevideo in the local Barrio Palermo at Calle Cebollatí 1461.
History
The organization was founded in 1980, by the Treaty of Montevideo of 1980, which entered into force on 18 March 1981, LAIA was the legal successor of the Latin American Free Trade Association ( ALALC ).
Member States
LAIA has 13 Member States.
- Argentina Argentina
- Bolivia Bolivia
- Brazil Brazil
- Chile Chile
- Colombia Colombia
- Cuba Cuba
- Ecuador Ecuador
- Mexico Mexico
- Panama Panama
- Paraguay Paraguay
- Peru Peru
- Uruguay Uruguay
- Venezuela Venezuela
On August 11, 2011, the accession of Nicaragua was accepted in principle and announced on 21 March 2012 as the 14th member state in the course of the 16th meeting of the Council of Ministers.
Objectives
- Promotion of trade to the creation of a common market
- Regional tariff preferences
- Market opening for Member States without reciprocity
- Multilateral association models