Integration in Latin America as a factor for foreign trade promotion

Abstract

The is article analyzes the current state and prospects of integration processes in Latin America, their influence on the development of regional and intraregional trade. The performance of four customs unions, such as Mercosur, CARICOM, the Andean Community of Nations, Central American Integration System, as well as the free trade zone - the Pacific alliance, is considered. The authors conclude that the integration processes are currently predominating at the sub-regional level, while the accent is shifting in favor of the region-wide level with the formation of a region-wide free trade zone in the future. Integration processes in Latin America have contributed to promoting foreign trade among the participating countries, to the growth in mutual exports and its share in total exports.