LATIN AMERICA

THE UNION OF SOUTH AMERICAN NATIONS (UNASUR)





Is an intergovernmental union that integrates two existing customs unions as part of a continuing process of South American integration: Mercosur and the Andean Community of nations. It is based on the European union. Its Constitutive Treaty was signed on May 23, 2008; the Union's headquarters are located in Quito, Ecuador. The group has the intention to model the community after the European Union this includes a common currency, a parliament, and a passport, according to studies a complete union like that of the EU should be possible by 2019.One important characteristic in order to prevent bureaucracy is that no new institutions will be created in the first phase

The main ideas of UNASUR ARE:

A) Creation of a single market, with the elimination of tariffs for non-sensitive products by 2014, and for sensitive products by 2019.

b) Economic development through the South American Bank launched by presidents of: Argentina, Bolivia, Brazil, Ecuador, Paraguay, Venezuela and Uruguay, this bank will finance economic development projects to improve local competitiveness and promote the scientific and technological development of the member states.





c) Regarding the Defense policy, The South American Defense Council (SADC) (proposed by Venezuela and Brazil) to serve as a NATO-like mechanism for regional security, promoting military co-operation and regional defense.

d) Plans of integration through infrastructure cooperation with the construction of the Interoceanic Highway, (road that pretends to link the Pacific Coast countries, especially Chile and Peru with Brazil and Argentina by the construction of extending highways through the continent, making easier the connections to ports .The construction of the first corridor first between Peru and Brazil, began in September 2005.

e) The idea of Free movement of people which states that visits by any South American citizen to any South American country of up to 90 days only require an identity card issued by the respective authority of the travelers’ country of origin.

Bibliography:
Union of South American Nations. (n.d.). In Wikipedia. Retrieved May 20,2010, from http://en.wikipedia.org/wiki/Union_of_South_American_Nations