The Latin American business leaders from Argentina, Brazil, Bolivia, Chile, Costa Rica, Colombia, El Salvador, Ecuador, Mexico, Paraguay, Peru, Uruguay, and Venezuela, members of the Latin American Business Council (CEAL), meeting in Brasilia on August 31 and September 1, 2000 during the Eleventh Annual Plenary Session of CEAL, held simultaneously with the Meeting of Heads of Government of South America, expressed their support for that initiative and furthermore, give:

Their support to initiatives that contribute to trade liberalization under the rules of the World Trade Organization (WTO), and to the regional integration movements by deepening existing agreements and boosting the exchange of experiences between the private and public sectors.

The entrepreneurs support:

• The Southern Common Market (Mercosur);

• The Andean Community of Nations (CAN);

• The negotiation and implementation of free trade agreements between Latin American countries and blocs, as well as with third countries or with other blocs;

• The formation of the Free Trade Area of the Americas;

• The signing of reciprocal investment protection agreements and of agreements to avoid double taxation;

• The privatization of economic sectors and the deregulation and liberalization of national markets;

• Efforts to increase productivity; and

• The extension of the WTO system to trade in agricultural goods.

At the macroeconomic level, they favor an agenda of contacts between national monetary and fiscal authorities for the purpose of coordinating, harmonizing and dovetailing macroeconomic polities and recommend a study leading to the adoption of common currencies by the region’s countries.

Specific measures suggested include: the implementation and use of trade dispute settlement mechanisms and of arbitration and private mediation procedures; facilitation of intra-regional business by cutting down on bureaucratic trade formalities; elimination of plant health barriers to intra-regional trade by creating a supranational control and inspection body; and the use of production financing mechanisms that open up more facilities for intra-area trade.

CEAL backs and encourages the participation of the private sector in infrastructure projects that are designed to contribute to the efficient operation of an integrated regional market. It also favors supportive cooperation between countries for the financing and supplementation of intra-regional infrastructure projects and of new ways to communicate knowledge and technology.

At the social level, CEAL proposes strengthening relations between business and non-governmental organizations on matters of social, cultural, and educational interest.

CEAL entrepreneurs reaffirm their commitment to the primary objectives of Peace and the rule of Law, of Safety, and of Democratic States, all of which are essential to the internal stability and sustainable development of the societies in the region.