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"USAN" redirects here. For US pharmaceutical names, see United States Adopted Name.
The Union of South American Nations (Dutch: The UNASUR Constitutive Treaty was signed on May 23, 2008, at the Third Summit of Heads of State, held in Brasília, Brazil, but not as of yet ratified by the required ninth nation. [4] According to the Constitutive Treaty, the Union's headquarters will be located in Quito, Ecuador. The South American Parliament will be located in Cochabamba, Bolivia, while its bank, the Bank of the South (Dutch: Bank van het Zuiden, Portuguese: Banco do Sul, Spanish: Banco del Sur), will be located in Caracas, Venezuela.[5] The Union's former designation, the South American Community of Nations (Dutch:
[edit] Overview South American leaders sign the "Cusco Declaration". At the Third South American Summit on 8 December 2004, presidents or representatives from 12 South American nations signed the Cusco Declaration, a two-page statement of intent announcing the foundation of the South American Community. Panama and Mexico attended the signing ceremony as observers. The group announced their intention to model the new community after the European Union including a common currency, parliament, and passport. According to Allan Wagner Tizón, former Secretary General of the Andean Community, a complete union like that of the EU should be possible by 2019. The mechanics of the new entity came out of the First South American Community of Nations Heads of State Summit, which was held in Brasília on 29 September–30 September 2005. An important operating condition of UNASUR is that 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. [edit] Name changeOn 28 December 2005, Chilean former foreign minister Ignacio Walker proposed that the name of the community be changed to South American Union (Dutch: Zuid-Amerikaanse Unie, Portuguese: União Sul-Americana, Spanish: Unión Sudamericana); nevertheless, many members stated to him that that proposal had already been rejected to prevent confusion related to its acronym (U.S.A. in comparison to the United States of America). The name was finally changed on April 16, 2007 to "Union of South American Nations" (Dutch: Unie van Zuid-Amerikaanse Naties, Portuguese: União de Nações Sul-Americanas, Spanish: Unión de Naciones Suramericanas), abbreviated "UNASUR" in Spanish and "UNASUL" in Portuguese. The new name was jointly agreed by all member states during the first day of meeting at the South American Energy Summit held at Isla Margarita, Venezuela. [edit] Structure Extraordinary Meeting of Heads of State and Government of the Union of South American Nations, held in Brasília. At the moment, the provisional structure of the UNASUR is as follows:
[edit] Current work in progressMichael Shifter of the Washington, D.C., Inter-American Dialogue called UNASUR a "pipe dream for now", while saying that "economic conditions in the region have never been riper for this sort of integration".[8] [edit] Single market
[edit] Infrastructure cooperation
[edit] Free movement of people
[edit] Economic development
Presidents of the seven founding countries (Argentina, Bolivia, Brazil, Ecuador, Paraguay, Venezuela and Uruguay) officially launched the South American Bank in Buenos Aires in December 2007. The heads of all the founding countries were at the ceremony, with the exception of President Tabaré Vázquez of Uruguay. The capital will be US$7b, with Venezuela responsible for US$3b and Brazil US$2b. The headquarters will be located in Caracas with offices in Buenos Aires and La Paz. The Bank of the South will finance economic development projects to improve local competitiveness and to promote the scientific and technological development of the member states. Chile and Colombia participated on initial meeting, but decided not to join the project due to their objection to Hugo Chavez's influence in the bank's creation[citation needed]. The founding chart affirms that the Bank will promote projects in "stable and equal" manner and priorities will be pointed to reinforce South American integration, to reduce asymmetries, and to promote egalitarian distribution of investments. The Brazilian Minister, Guido Mantega, stated that the bank is not similar to the International Monetary Fund; it will be a credit institution similar to the World Bank. [edit] Defence policyThe South American Defence Council (SADC) was proposed by Venezuela and Brazil to serve as a NATO-like mechanism for regional security, promoting military co-operation and regional defence. Colombia initially refused to sign up to the defence council due to its strong military ties it has with the United States through the Plan Colombia. However after reviewing the proposal they decided to join on July 20, 2008.[10][11][12] Shortly following the signing by Colombia's President, President of Chile Michelle Bachelet appointed a working group to investigate and draft a plan for the new council. Finally on March 10, 2009, the 12 nation members held its first meeting in Chile of the newly formed council.[13] [edit] Participating nation statesMain article: Member State of the Union of South American Nations
¹ These countries are also considered to be associate members of Mercosur [edit] Non-participating territoriesThe following parts of South America are dependent territories and therefore do not participate:
[edit] See also
[edit] References
[edit] External linksFind more about Union of South American Nations on Wikipedia's sister projects:
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