In the 2004 South American Summit , representatives of twelve South American nations signed the Cuzco Declaration , a two-page letter of intent announcing the establishment of the then-named " South American Community of Nations " . Panama and Mexico were present as observers . The leaders announced the intention of modeling the new community in the mold of the European Union , including a unified passport , a parliament and , eventually , a single currency . The then Secretary General of the Andean Community Allan Wagner speculated that an advanced union such as the EU should be possible within the next fifteen years
2004 South American Summit
2004 South American Summit
Union of South American Nations