Free Trade and Economic Integration in Latin America

Free Trade and Economic Integration in Latin America: The Evolution of a Common Market Policy offers a comprehensive analysis of Latin America's progress toward regional economic integration and the creation of a common market. The study is divided into three sections: Part I explores the early economic development of Latin America, highlighting the composition of imports, limited intra-regional trade, and initial steps toward trade liberalization. It discusses the growing focus on industrial development as a key component of integration. Part II examines the various integration proposals put forward over the years, detailing their legal foundations and key agreements, including the Montevideo Treaty which established a free-trade area between seven countries. A special focus is given to Central American experiences and proposals for payments compensation and reciprocal credit. Part III analyzes the current status of the Latin American free-trade area and the challenges it faces. This study also reflects the growing importance of Latin America's economic integration on the global stage, with increasing attention from countries such as the United States, European nations, and even the Soviet bloc. The post-1960 developments, including the entry into force of the Montevideo Treaty in 1961, are updated in the American edition, with new chapters on recent progress. This work aims to offer readers a deeper understanding of Latin America's integration efforts, which are shaping the regions economic future and may influence global trade dynamics in the years to come. This title is part of UC Press's Voices Revived program, which commemorates University of California Presss mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1962.