ABSTRACT
This chapter analyzes the Latin American Economic Organization (SELA). Of particular interest is SELA’s capacity for dealing with intra-regional conflicts, the methods used and its success in bringing about cooperative attitudes between members. On October 17, 1975, 26 countries of Latin America and the Caribbean met in Panama City and signed the Panama Convention constituting the Latin American Economic System. The creation of a mechanism for considerinG emergency situations affecting regional economic security also fills a crucial vacuum, since the region had no exclusive Latin American forum for that purpose. The Latin American Council also approves the common stands and strategies adopted by the Member States in economic and social matters, both in international organizations and fora and vis-a-vis third countries or groups of countries. The Action Committees enjoy a certain degree of independence from the Permanent Secretariat in their activities, despite the fact that the latter often continues to undertake consultations and attempts to reconcile parties involved in disputes.
