Common Market of the South


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Common Market of the South:

see MercosurMercosur
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.
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References in periodicals archive ?
The tax is intended to support automobile industries in the Common Market of the South, or Mercosur, to which Brazil belongs.
Among the principal trading arrangements are the North American Free Trade Agreement (NAFTA), the Common Market of the South (Mercosur), Andean Community, Central American Integration System and several dozen bilateral economic integration accords.
ANKARA, Dec 15, 2010 (TUR) -- Turkish State Minister & Chief Negotiator Egemen Bagis will travel to Brazil on Wednesday to attend 40th Common Market of the South (MERCOSUR) summit and ministerial meeting.
The new manufacturing facility, located in Campinas, a region 80 miles northwest of Sao Paulo, will produce Harris Maxiva UAX air-cooled solid-state transmitters for distribution to broadcasters across Brazil, as well as throughout Mercosur (the Common Market of the South) and other Latin American countries.
(22) As this program developed, sub-regional bodies were created, leading to the regional agreements in operation now: ALADI, the Andean Community and the Common Market of the South (MERCOSUR).
Currently, Venezuela is bidding to join the Common Market of the South, or Mercosur, by the end of this year.
At the same time, Argentina is likely to increase its overall trade with Brazil, its largest trading partner, and other members of the Common Market of the South, or Mercosul, which also includes Bolivia, Chile, Paraguay and Uruguay.
Only Mercosur, the Common Market of the South, has been running successfully since 1991.
Mercosur (Mercado Comun del Sur, or the Common Market of the South) is the most striking signal of this transformation, one that promises to make a single market of a large swath of Latin America.
During the talks, Cavaco Silva praised Brazil's political and economic achievements in recent years, and promised that Portugal will push forward negotiations on the free trade agreement between Mercosur, or the Common Market of the South, and the European Commission.