The History of NELABC The New England-Latin America Business Council (NELABC) was founded in 1991 by a diverse group of business people, government officials, professionals and members of consular staffs of Latin American nations. The six North Eastern states that are referred to as New England include Massachusetts, Connecticut, Rhode Island, Maine, New Hampshire, and Vermont. NELABC's mission is to promote and facilitate the development of business and investment opportunities between New England and Latin America. Historically, trade and investment between these two regions have been substantial. But now it is growing at an unprecedented rate as the United States, Canada and Latin America (Mexico, Central America, South America and the Caribbean) have agreed to bold new measures to promote and expand trade and investment within the Americas. Economic and business linkages between Mexico, the United States and Canada -- the North American market whose combined population is 360 million -- are already multiplying as a result of the North American Free Trade Agreement (NAFTA). The value of bi-lateral trade between Mexico and the United States surpassed $70 billion in 1993 and is currently growing at an even more rapid rate. Similarly, the Caribbean Basin Initiative created significant incentives for trade between qualifying Caribbean nations and the United States. Other trade pacts affecting the Americas are on the horizon. They will even further enhance the possibilities for expanding inter-American business relationships.