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Mercosur |
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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 now include Argentina, Brazil, Paraguay, Uruguay, and Venezuela; Bolivia, Chile, Colombia, Ecuador, and Peru 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, and trade between its members has greatly expanded since 1991. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Although comparable in population, the nine South American countries of the Southern Cone Common Market (Mercosur) and Andean Community trade blocs house a collective economy that is 12 times smaller than the North American Free Trade Agreement (NAFTA) and more than 11 times smaller than the European Union. The Southern Cone Common Market (Mercado Comun del Sur -Mercosur) was established in March 1991 by Argentina, Brazil, Paraguay, and Uruguay. |
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