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| | Embassy of Brazil (Site not responding. Last check: 2007-10-09) |
 | | The Montevideo Treaty of 1960 (TM-60), which created the Latin American Association of Free Trade (ALALC), engaged the member countries in the setting up of a Free Trade Zone to be implemented in 12 years, and had as its final objective the creation of a common regional market. |
 | | The member countries of the Montevideo Treaty ensured that its clauses were compatible with the rules of GATT, Article XXIV in particular, which allowed exceptions to the cornerstone clause of the most favored nation. |
 | | Additional difficulties were also due to the lack of flexibility in the main clauses of the Treaty, the overly-ambitious objectives it established, the opposition of the private sector, and last but not least, political problems, as a consequence of the gradual dominance of authoritarian regimes in nearly all the countries of the region. |
| www.brasilemb.org /embassy/embaixador_evolution_sa.shtml (6141 words) |
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