But, unlike the Washington-based Organisation of American States, the new group (known by its Spanish initials as Celac) includes Cuba.

At the end of the summit in Venezuela on December 3, the leaders pledged closer ties.

They pledged to try to withstand the financial crisis affecting Europe and other developed economies.

The host, President Hugo Chavez, called the summit "historic".

Mr Chavez read out several statements approved by the leaders, including one opposing the US trade embargo on Cuba.

The Venezuelan leader, along with some of his closest allies, said the new bloc would help Latin America stand up to US influence.

But other leaders chose to highlight the region's economic concerns and issues such as drug trafficking and climate change.