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Latin American Economy & Business - April 2019

Region: Prosur offers tenuous promise of economic cooperation

On 22 March, the presidents of Argentina, Chile, Colombia, Brazil, Ecuador, Paraguay, and Peru, along with Guyana’s ambassador to Chile, met in Chile to inaugurate a new regional bloc, the Foro para el Progreso y Desarrollo de América Latina (Prosur). All eight countries signed the Santiago Declaration, paving the way for the formation of the group. The aim of the new organisation, according to its most enthusiastic proponent, Chilean President Sebastián Piñera, is to create “a regional space of coordination and cooperation, without exclusion of ideologies” and “advance toward a more effective integration, that allows contribution to growth, progress and development”.

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