Latin American Integration Association (LAIA)
(regional trade alliance) LAIA was created by the 1980 Montevideo Treaty as a replacement to the Latin American Free Trade Association (LAFTA). LAFTA was rejected because members felt its rules governing integration trends were too rigid. LAIA, an association involving Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay, and Venezuela, since has declined as a major Latin American integration effort in favor of regional efforts, such as Mercosur. See Mercosur.