South American leaders create new development bloc

Friday, 22 March 2019 00:50:27 (GMT+3)   |   Sao Paulo

South American leaders from Argentina, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay and Peru have signed this week the Santiago Declaration, in Santiago de Chile, which sets the basis for a new development bloc named Prosur, which will replace the existing South American bloc Unasul.

According to the document, the countries expressed their desire to “build and consolidate” a regional space for regional cooperation, without exclusions, to further integrate South America. The document said the “development forum” would be established gradually, under a “flexible, light and inexpensive basis.”

Topics of interest for Prosur include infrastructure, energy, health, defense, as well as response to natural disasters.

Chile will assume the pro-tempore presidency of Prosur within the next 12 months, the document said. Then, Paraguay should assume the leadership of the development block for a further 12-month period.


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