The social and economic integration of South America has been marked by the inception of different trade blocs. Among them, the Comunidad Andina (ANCOM), created in 1969, seeks to establish a common market between Bolivia, Colombia, Ecuador and Peru. Another bloc is the Mercado Comun del Sur (MERCOSUR). Created in 1991, it looks for creating a common market between its country members: Argentina, Bolivia, Brazil, Paraguay, Uruguay and Venezuela. Additionally, since 2008, The Union de Naciones Suramericanas (UNASUR) fosters not only economic but also social objectives.
In addition to the supranational and political initiatives, in 2011, the Chile, Colombia and Peru stoke exchanges created the Mercado Integrado Latinoamericano (MILA). As Standard & Poor’s mentions the three MILA countries represents the region’s most liquid and investable markets. In addition, S&P highlights that: “1) MILA is the second largest trading venue by marketing capitalization (US$ 711 million) and 2) MILA is the largest trading venue in Lain America, by number of listing (544)”. The creation of MILA represents a clear example of the feasibility of legal and economic integration in Latin American countries and an opportunity to attract capital to the three country members to foster economic growth. These are two characteristics that enhance a practical South America Integration.
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