Latin American Economic System

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The Latin American Economic System, officially known as Sistema Económico Latinoamericano (SELA), is an organization founded in 1975 to promote economic cooperation and social development between Latin American countries. In the early 1990s, its representatives consisted of members from 27 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.