Twenty-Five member countries of the Latin American Economic System (SELA) started a three-day meeting of the organisation's Supreme body, the Latin American Council in Venezuela on Monday.
Twenty-Five member countries of the Latin American Economic System (SELA) started a three-day meeting of the organisation's Supreme body, the Latin American Council in Venezuela on Monday. One major theme of the meeting was the role of SELA in dialogue with the industrialized world.
SYNOPSIS: Even before the Council meeting got under way, agreement has already been reached on the first steps towards the creation of Latin America's first-ever multinational company. The decision to go ahead with that plan was taken at a preparatory meeting, and it will involve the setting up of a company for marketing fertilizer. The creation of multinationals was one of the principal aims behind the establishment of SELA, but this is the first initiative to get under way.
Santiago Roel, Mexico's Minister of Foreign Affairs, reiterated another prime aim behind the setting up of the Latin American Economic system was to try and establish a permanent system of economic and social cooperation on an inter-regional basis. This, he said, should be done with consultation and coordination and taking into account all view points from the continent.
Senor Roel stressed that the expansion of SELA's trading contacts should be not just with third world countries, but also with the international community. UNCTAD, the United Nations Conference on Trade and Development was represented at the meeting by its Secretary-General.
Senor Roel told delegates that members of the Latin American Economic System had to take advantage of the various forces and initiatives at work in Latin America at the moment and to mould them into a permanent system which for the first time would include all countries.
So far SELA has already established action committees for exploiting trade in three areas-cereals, with an action committee based in Buenos Aires, Fish-based in Lima, and meat and dairy products in Montevideo.