Latin American and Caribbean economic System - SELA America

Related Foreign Trade Courses and masters: Course Economy of Latin America - Master Business in the Americas - Master in business in Latin America

Course summary (Latin American and Caribbean Economic System):

The Latin American and Caribbean economic System (SELA) is a regional intergovernmental organization that Groups 26 Latin American and Caribbean countries. Its headquarters are in Caracas, Venezuela. SELA was established on 17 October 1975 by the Panama Convention and its current membership includes Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Colombia, Costa Rica, Cuba, Chile, Ecuador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Dominican Republic, Suriname, Trinidad & Tobago, Uruguay and Venezuela.

Objectives:
- Provide the Latin American and Caribbean region with a system of consultation and coordination for the adoption of common positions and strategies on economic issues in international bodies and forums and before third countries and Groups of countries and

- Foster cooperation and integration among the countries of Latin America and the Caribbean.

Example of the course (Latin American and Caribbean Economic System SELA):

Extra-regional relations:
- Seal business and cooperation proposals for Latin America and the Caribbean.

- Conduct systematic analyses of the impact of global economic decisions and processes on the economies of the region.

- Assess processes linked to international business, commercial, economic and financial negotiations and the implications of such processes for regional development and integration.

- Support member states, whenever necessary, with respect to their participation in the relevant deliberations and negotiations.

Intra-regional relations:
- Support the development, coordination and convergence of the sub-regional processes of Latin America Latin and the Caribbean.

- Maintain a systematic analysis of the relevant factors with a view to ensuring the harmonious development of integration between the countries of Latin America and the Caribbean.

- Promote strategies to identify operational efforts that will help further the coordination and convergence of Economic integration throughout the region.

- Consider and develop proposals aimed at creating an institutional framework of integration that will encourage coordination and convergence in sub-regional processes.

Economic and Technical Cooperation:
- Promote the flow of multilateral and bilateral cooperation from international agencies and donor countries towards the region and serve as a regional focal point for economic and technical cooperation between developing countries.

- Encourage the exchange of experiences and information on national policies, particularly those of greatest relevance to macroeconomic coordination, the struggle against poverty, social inclusion and international cooperation.

The Latin American Council is the principal decision-making body of SELA. Each member states has one (1) Representative to this Council, which meets regularly once a year. Its responsibilities include determining the institution's general policies and formulating specific declarations in the form of Decisions approved on a consensual basis.

Observer Organizations to the Latin American Council of SELA

- Association of Caribbean States ACS
- Latin American Integration Association ALADI
Latin American Association of Development Financing institutions ALIDE
Latin American Export Bank BLADEX
Central American Bank for economic integration CABEI
Andean development corporation CAF
Andean Community CAN
Caribbean Development Bank CARIBANK
Caribbean Community CARICOM
Centre for Latin American Monetary Studies CEMLA
Economic Commission for Latin America and the Caribbean ECLAC
European Union EU
United Nations Food and Agricultural Organization FAO
Latin American Reserve Fund FLAR
Financial Fund for the Development of the Plata Basin FONPLATA
Intergovernmental Coordinating Committee for the Plata Basin countries ICC
Inter-American Development Bank IDB
Inter-American Institute for Agricultural Cooperation IICA
Institute for Latin American Integration INTAL
International Organization for Migration IOM
International Strategy for Disaster Reduction ISDR
International Trade Centre ITC
Organization of Eastern Caribbean States OECS
Latin American Energy Organization OLADE
Latin American Fisheries Development Organization OLDEPESCA
Pan American Health Organization / World Health Organization PAHO / WHO
Central American Parliament PARLACEN
Andean Parliament PARLANDINO
Latin American Parliament PARLATINO
Latin American Technological Information Network RITLA
Central American Integration System SICA
Permanent Secretariat of the General Treaty on Central American economic Integration SIECA
Court of Justice of the Andean Community TJCA
United Nations Organization UN
United Nations Conference on Trade and Development UNCTAD
United Nations Development Program UNDP
United Nations Environment Program UNEP
United Nations Educational, Scientific and Cultural Organization UNESCO
United Nations Children’s Fund UNICEF
United Nations Industrial Development Organization UNIDO
World Intellectual Property Organization WIPO
World Trade Organization (WTO)

System, Economic, Latin American, Caribbean, SELA, Council, Centre, Digital, Information, Knowledge, Argentina, Brazil