The Latin American Integration Association / Asociación Latinoamericana de Integración / Associação Latino-Americana de Integração (LAIA / ALADI) is an international and regional scope organization. It was created on 12 August 1980 by the 1980 Montevideo Treaty, replacing the Latin American Free Trade Association (LAFTA/ALALC). Currently, it has 13 member countries, and any of the Latin American States may apply for accession. Objectives The development of the integration process developed within the framework of the ALADI aims at promoting the harmonious and balanced socio-economic development of the region, and its long-term objective is the gradual and progressive establishment of a Latin-American single market. Basic functions Promotion and regulation of reciprocal trade Economic complementation Development of economic cooperation actions contributing to the markets extension. General principles Pluralism in political and economic matters; Progressive convergence of partial actions for the establishment of a Latin-American Common Market; Flexibility; Differential treatments based on the development level of the member countries; and Multiple forms of trade agreements. Integration mechanisms The ALADI promotes the establishment of an area of economic preferences within the region, in order to create a Latin-American common market, through three mechanisms: A Regional Tariff Preference applied to goods from the member countries compared to tariffs in-force for third countries. Regional Scope Agreements, those in which all member countries participate. Partial Scope Agreements, those wherein two or more countries of the area participate. The Relatively Less Economically Developed Countries of the region (Bolivia, Ecuador and Paraguay) benefit from a preferential system, through the lists of markets opening offered by the countries in favor of the Relatively Less Economically Developed Countries; special programs of cooperation (business rounds, pre-investment, financing, technological support); and countervailing measures in favor of the land-locked countries, the full participation of such countries in the integration process is sought. The ALADI includes in its legal structure the strongest sub-regional, plurilateral and bilateral integration agreements arising in growing numbers in the continent. As a result, the ALADI – as an institutional and legal framework or “umbrella” of the regional integration- develops actions in order to support and foster these efforts for the progressive establishment of a common economic space. Member states Accession of other Latin American countries The 1980 Montevideo Treaty is open to the accession of any Latin-American country. On 26 August 1999, the first accession to the 1980 Montevideo Treaty was executed, with the incorporation of the Republic of Cuba