Yes
The Community of Latin American and the Caribbean States is a regional organization that incorporates partnerships of governmental powers in the Americas. The founding declaration of CELAC supports the cultural, political, social, and economic integration of its member countries, which is hoped to advance the quality of life, social welfare, and economic growth. It was also created to achieve cultural independence so that natural and sustainable development can occur as an agreement between member and associate states.
Each year, the presidency is shifted and the country which is actively acting as the organization's presidency will post multilateral talks among members and partnerships. This meeting is known as the Summit of Heads of State and Government - and set the group's forward-looking agenda of actionable tasks for the next year. In 2011, CELAC members met for the first time in Venezuela to inaugurate the organization, as a gesture towards the country whose late president was the largest activist and champion of the creation of this organization.
CELAC first originated as an idea in 2010, coming as a result of two regional blocs, the Latin American and Caribbean Summit on Integration and Development, and the Rio Group. The Rio group was initially formed in 1986, which was an alternative to the Organization of American States (OAS). Venezuelan President Hugo Chavez, at the time, was CELAC's biggest proponent. The president wanted to establish this partnership to challenge the interference that the United States had in the governing bodies of the world, primarily in their home countries.
It was officially formed in 2011 and was described as a way for Latin America to get increased independence and hegemony from the larger powers in the western hemisphere, the chief of which was the United States.
CELAC is a relatively new organization that sets its agenda relative to its meetings. It is more of a show of solidarity, meaning that the member countries within it must act in the best interest of each other to form an independent group that can rely on one another for economic, social, and cultural benefit. Unfortunately, CELAC lacks the infrastructure, funding, and commitment from its members to finance a proper and integrative effort that greatly impacts the progress of their advancement. Beyond ad-hoc meetings, which generally focus on trade and education, there are no permanent secretaries, leadership, or any integration of actionable steps for each member country to take forward.
While CELAC is mainly known and was created for, the promotion of regional security and alliance, the bloc is a platform for the communication and amelioration of the partnerships between Latin America & the Caribbean, which then is used as an ambassador program for its relations with other global economies. For example, a biennial event called the EU-CELAC summit promotes cooperation between the European Union and the regional members within CELAC. In 2015, CELAC held its first meeting with China, where Xi Jinping pledged over 250 billion USD to investments in CELAC over the next decade.