This edition of the Bulletin highlights sections of a recent study carried out by the Transport Unit of ECLAC on behalf of the Institute for Latin American Integration (INTAL) entitled Physical Integration of Mercosur-Bolivia- Chile-Peru: the potential contribution of the railway systems. One of the conclusions stresses the need for the railway and other companies involved in the construction of any major project to sign formal agreements relating to the allocation of freight, track utilization fees and other factors on which operation of the railway to be constructed will depend.