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CaptionThe South American Community of Nations SACN Spanish: Comunidad Sudamericana de Naciones CSN Portuguese: Comunidade Sul-Americana de Nações CSN will be a continent-wide free trade zone that will unite two existing free-trade organizations — Mercosur and the Andean Community — eliminating tariffs for non-sensitive products in ten years and sensitive products in fifteen years. Complete integration between these two trade blocs is expected in the next two years. At the Third South American Summit on 8 December 2004 presidents or representatives from twelve South American nations signed the Cuzco Declaration a two-page statement of intent announcing the foundation of the South American Community. South American leaders sign the Cuzco DeclarationLeaders announced their intention to model the new community after the European Union including a common currency parliament and passport. According to Allan Wagner Secretary General of the Andean Community a complete union like that of the EU should be possible in the next fifteen years. The mechanics of the new entity should come out at the First SACN Summit to be held in Brazil in March of 2005. A constitution is also expected to be drafted in 2005. The Second Summit will be held in Bolivia. No new institutions will be created in the first phase so as not to increase bureaucracy and the community will use the existing institutions belonging to the previous trade blocs.
HeadlineDEC-2004: the South American Community of Nations is founded. Capital in Lima & Bank in Brazilia
Copyright Noticewiki/South_ American_ Community_of_Nations
Creditfrom wikipedia
URLhttp://en.wikipedia.org/wiki/South_American_Community_of_Nations
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Cuzco_summit.jpg 34 Kb 12/21/2004 29 0.00 (0 votes)

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