Latin America's experience with regional economic integration has been only slightly shorter than that of Europe. In fact, the first attempt at integration started as early as 1960, with the creation of LAFTA - the Latin American Free Trade Area (subsequently replaced by LAIA - the Latin American Integration Association). LAFTA, composed of 11 countries, sought, unsuccessfully, to create a free trade area in 12 years. In 1969, the Andean pact, which sought, also unsuccessfully, to create a sub-regional free trade area, was set up. Recently the Presidents of Argentina, Brazil, Paraguay and...