Union of South American Nations (UNASUR)
The Union of South American Nations was established in May 2008 when 12 nations met in Brazil to sign the founding document. It is anticipated that the Union will eventually supersede Mercosur and the Andean Community, creating an enlarged customs union with a single market, parliament, secretariat and central bank, based on the European Union structure. UNASUR is the successor body to the now defunct South American Community of Nations (CSN/SACN), founded in 2004. However, insufficiently defined goals and ongoing disputes between members of the already-existing blocs may hamper development, as may future bilateral trade negotiations with the USA.