Final answer:
The exception in the list of Latin American trade agreements is BRIC, which is actually an association of Brazil, Russia, India, and China and not a Latin American trading arrangement like the others mentioned.
Step-by-step explanation:
The preferred trading arrangements listed in the question are all economic integration initiatives in Latin America, with the exception of E) BRIC. BRIC is not a Latin American trade agreement; rather, it refers to the association of four major emerging national economies: Brazil, Russia, India, and China. On the other hand, A) SICA (Central American Integration System), B) the Andean Community, C) CARICOM (Caribbean Community), and D) Mercosur (Southern Common Market) are all trading arrangements that include Latin American countries and aim to promote economic cooperation and trade within the region.
Mercosur is one of the most significant trade agreements in Latin America, originally formed by Brazil, Argentina, Paraguay, and Uruguay to bolster economic development with social justice and environmental protection. Over time, it has expanded to include more South American countries as full or associate members. The Andean Community, composed of Colombia, Ecuador, Peru, and Bolivia, is focused on both trade integration and cooperation. The CARICOM aims to promote economic integration and cooperation among Caribbean nations. Finally, SICA endeavors to achieve integration in Central America for both political and economic purposes.