The region of Latin America, which includes Central and South America, is comprised of three principal juridical and economic blocs. These are:
The fourth major trading bloc, the Bolivarian Alliance for the Peoples of our America (ALBA), has recently emerged as a radical alternative to the more neoliberal agreements. Other major trading blocs that include Latin American countries are the United States–Mexico–Canada Agreement (USMCA) and the Dominican Republic-Central American Free Trade Agreement (DR-CAFTA).
The aim of creating a Latin American common market is supported by the Latin American Integration Association (ALADI).