The negotiation of regional or bilateral free trade agreements has become a distinctive feature of international economic relations and Latin America is not an exception. Most of these agreements began to be negotiated in the mid-1990 ?s and their number has not stopped rising since then. This study offers a global panorama of the different trade agreements signed by the countries of South America within and outside of the region, especially the free trade agreements negotiated by Colombia, Chile and Peru. The main aspects, content and current status of these agreements are discussed, as well as their similarities and differences, the dynamics of trade among the countries involved and the different initiatives and negotiations now underway.