Latin American Economic System
The Latin American and the Caribbean Economic System, officially known as Sistema Económico Latinoamericano y del Caribe (SELA), is an organization founded in 1975 to promote economic cooperation and social development between Latin American and the Caribbean countries. In the early 1990s, its representatives consisted of members from 28 countries and took part in the General Agreement on Tariffs and Trade (GATT) negotiations, which led to a new global agreement on restrictions on trade and established the World Trade Organization (WTO).
The Latin American Council represents SELA's policy-making body and meets once a year. The main administrative body is the secretariat, located in Caracas, Venezuela.
Read more about Latin American Economic System: Objectives, Member Countries
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