The international conditions of higher education have never been so much emphasised as in the last decade. This new scenario is shaped especially by the growing influence of external aspects in the higher education arena, such as the need for comparable skills in a world with increased flow of labour. The establishment of common regional frameworks is one of the consequences of the impact of the external conditions in higher education. In this context, this book aims at exploring the process of shaping an inter-regional common area among the European Union, the Latin America, and Caribbean. The ALCUE common area of higher education will be composed by 60 national systems, and should be established by 2015. The book analyses the origins of this agreement, and which elements may be decisive in the future developments of this unique higher education space.