The Lima Agreement of 1974: A Brief Overview
The Lima Agreement of 1974, also known as the Declaration of Lima, was a historic pact signed by 18 countries of Latin America and the Caribbean. The agreement was aimed at promoting economic cooperation, social development, and regional integration among the signatories.
The agreement was signed on August 26, 1974, in Lima, Peru, at the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). The signatories of the Lima Agreement included Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, the Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, and Venezuela.
The Lima Agreement was a response to the economic crisis that affected the region in the early 1970s. The agreement aimed to promote a more equitable distribution of resources and wealth, reduce economic dependence on developed countries, and strengthen the region`s economic and political integration. It also recognized the need for social development, including the reduction of poverty and inequality.
The Lima Agreement established several mechanisms to achieve its goals. It created the Latin American Economic System (SELA), a regional intergovernmental organization that aimed to promote economic cooperation, trade, and investment among the signatories. SELA also aimed to coordinate the region`s development policies and to support the integration of the region into the global economy.
The Lima Agreement also established the Andean Pact, a sub-regional organization that aimed to promote economic integration among the countries of the Andean region. The Andean Pact was later replaced by the Andean Community, which expanded its membership beyond the original signatories of the Lima Agreement.
The Lima Agreement was a significant milestone in the history of Latin America and the Caribbean. It marked a new era of cooperation and integration among the countries of the region. It also inspired other regions of the world to follow its example and to seek greater regional integration and cooperation.
In conclusion, the Lima Agreement of 1974 was a historic pact that aimed to promote economic cooperation, social development, and regional integration among the countries of Latin America and the Caribbean. It created several mechanisms to achieve its goals, including the Latin American Economic System (SELA) and the Andean Pact. The Lima Agreement was a significant step towards a more equitable and prosperous future for the region.