Mercosur


Also found in: Dictionary, Financial, Acronyms, Wikipedia.
Related to Mercosur: Unasur

Mercosur

or

Mercosul,

officially the Common Market of the South, Latin American trade organization established in 1991 to increase economic cooperation among the countries of E South America. It is commonly known as Mercosur or Mercosul from the Spanish and Portuguese names, respectively, for the organization. Full members are Argentina, Brazil, Paraguay, and Uruguay. Venezuela, which became a full member in 2012, was suspended in 2016 for failing to bring its national laws in line with membership requirements in the areas of economics, human rights, and immigration. Bolivia is in the process of becoming a full member, and Chile, Colombia, Ecuador, Guyana, Peru, and Suriname are associate members. The headquarters are in Montevideo, Uruguay. Mercosur is gradually eliminating tariffs between member states and at the same time aiming for a low common external duty; trade among its members has greatly expanded since 1991. A Mercosur parliament was established in 2007.
References in periodicals archive ?
Some of these issues may find a solution in a deepening of the most developed regional agreement on the movement of people, the Mercosur Residence Agreement.
at 4-10 (describing beneficial nature of relationships MERCOSUR creates).
donde los aranceles que se aplican a la importacion de manufacturas generalmente oscilan entre el 2 y el 3%, con lo cual sera este, en el caso de que se logre una zona de libre comercio, el porcentaje de preferencia que los empresarios del Mercosur recibirian en ese mercado frente a la competencia de firmas de paises terceros tales como Japon, India, China o Rusia.
Kirchner issued the invitation to Calderon to join MERCOSUR following the signing of a strategic-association agreement between the two countries, which deals not only with trade and economic matters but also with cultural, scientific, and technological issues and education-related exchanges.
That no such similar regional interest groups and related laws have developed in MERCOSUR is attributed to a lesser degree of development, as feminism, like environmentalism, is said to be a 'luxury good' and also to shared culture of machismo.
Argentine President Nestor Kirchner said Mexico and Venezuela would have to formalize free-trade agreements with Mercosur before becoming associate members.
This paper discusses the need for Mercosur to define itself multilaterally, as well as its future ambitions as a full customs union.
The membership of the Mercosur nations is composed of four primary members, Uruguay, Paraguay, Brazil, and Argentina which represent 200 million consumers and a combined economy of over one trillion dollars (Mye & Patagonia, 1996).
The Mercosur bloc encompasses Brazil, Argentina, Uruguay and Paraguay while Chile and Bolivia are associated members.
MERCOSUR, which is made up of Argentina, Bolivia, Brazil, Uruguay, and Paraguay, has never lived up to its potential as a driving force in regional free trade.
SAO PAULO --The recent Mercosur summit on the island city of Florianopolis in southern Brazil was largely a disappointment.
In working-level talks at the ministry, Japan and Mercosur -- a common market comprising Argentina, Brazil, Paraguay and Uruguay -- signed a document aimed at activating dialogue and promoting closer cooperation between the two parties, the official said.