This book examines and proposes a legal framework for the creation of a regional space agency for Latin America especially in regard of pivotal aspects such as institutional structures, transfer of competences and cooperation agreements facilitating Latin America to act with one voice on the international space stage. It demonstrates how the European Space Agency (ESA), as regional space agency for Europe and its experiences for more than 50 years, may serves as model for such a regional forum in Latin America in view of required structures and rules to enable common peaceful space activities on regional level for the development of Latin American states and for the benefit of their societies.