6132410055 (Latin American Free Trade Association)
Trade deal between Latin America and EU ratified at Mercosur
Latin American Delegates Launch New Common Trade Organisation (1980)
Latin American Free Trade Agreement
The Latin American Free Trade Association, LAFTA, was created in 1960 in the 1960 Treaty of Montevideo by Argentina, Brazil, Chile, Mexico, Paraguay, Peru, and Uruguay. The signatories hoped to create a market in Latin America and offered tariff rebates among member nations. In 1980, LAFTA reorganized into the Latin American Integration Association (ALADI) which now has 13 members: Argentine Republic, Republic of Bolivia, Federative Republic of Brazil, Republic of Chile, Republic of Colombia, Republic of Cuba, Republic of Ecuador, United Mexican States, Republic of Panama, Republic of Paraguay, Republic of Peru, Eastern Republic of Uruguay and Bolivarian Republic of Venezuela.