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Latin American Integration Association
Latin American Integration Association (LAIA) The successor to the Latin American Free Trade Association (LAFTA), which had been formed in 1960 by the Treaty of Montevideo in an attempt to liberalize and harmonize trade between its eleven member states. As this did not take enough account of the vast differences in economic development between the various members, the LAFTA gave way to the LAIA on 12 August 1980. The LAIA promoted bilateral trade liberalization between individual member states, and established general tariff reductions in different bands, in an attempt to promote the economic development among its poorer members, notably Bolivia, Ecuador, and Paraguay.
Andean Group; OAS; Mercosur |
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Cite this article
JAN PALMOWSKI. "Latin American Integration Association." A Dictionary of Contemporary World History. 2004. Encyclopedia.com. 30 May. 2012 <http://www.encyclopedia.com>. JAN PALMOWSKI. "Latin American Integration Association." A Dictionary of Contemporary World History. 2004. Encyclopedia.com. (May 30, 2012). http://www.encyclopedia.com/doc/1O46-LatinAmericanIntgrtnssctn.html JAN PALMOWSKI. "Latin American Integration Association." A Dictionary of Contemporary World History. 2004. Retrieved May 30, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O46-LatinAmericanIntgrtnssctn.html |
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