Abstract: Latin American economy is growing fast and national enterprises are looking for new ways of improving their competitive position against international firms, specially Small and Medium Enterprises. The concept of Virtual Enterprises can be a new way to do business and exploit business opportunities for these companies. In this report we will discuss the Framework for Virtual Enterprises developed in the Alfa Project called COSME-GVE (Global Virtual Enterprise) and a case of study will be presented based on experiences of a Mexican Company.