Mercosur


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Related to Mercosur: Unasur

Mercosur

The "Common Market of the South," which includes Argentina, Brazil, Paraguay, and Uruguay in a regional trade pact that reduces tariffs on intrapact trade by up to 90%.

Mercosur

An international organization consisting of Argentina, Brazil, Paraguay, and Uruguay, as well as several associate members in Latin America. The organization mandates the lowering of tariffs and other trade barriers, with an eye toward eventually eliminating restrictions on the movement of capital, labor, and goods and services. It aims to increase trade by and between countries in South America; critics in the United States and elsewhere worry that it will prevent the proposed Free Trade Area of the Americas from coming to fruition. See also: Free trade, Gaucho.

Mercosur

a regional ‘customs union’ established in 1995 to promote FREE TRADE between Brazil, Uruguay, Argentina and Paraguay. See TRADE INTEGRATION, LATIN AMERICAN FREE TRADE ASSOCIATION.

Mercosur

a regional CUSTOMS UNION established in 1995 to promote FREE TRADE between member countries. Mercosur, which comprises Brazil, Uruguay, Argentina and Paraguay, provides for the tariff-free movement of products between member countries and operates a ‘common external tariff against imports from non-members.

See TRADE INTEGRATION.

References in periodicals archive ?
Mercosur did not have among its original goals the free movement of workers, let alone citizens in general.
See Porrata-Doria, MERCOSUR, supra note 2, at 4-10, 69-70 (discussing momentum leading to creation of MERCOSUR and other integration).
Que el Mercosur tiene un problema para negociar con otros paises lo confirma el director del Departamento de Negociaciones Internacionales de Itamaraty, Evandro Didonet cuando comento al periodico "Valor Economico" con fecha 10 de mayo de 2007 que "considera esencial que el Mercosur logre acuerdos con paises de fuera de America del Sur ya que hasta ahora no se logro ninguno.
He also reiterated that Mexico has a "standing invitation" to join MERCOSUR.
Dairy firms in Argentina and Brazil, instead of opposing standardisation as in Europe, embraced the opportunity for expanded regional trade and investment permitted by MERCOSUR.
The primary objective of Mercosur was to create an integrated regional market whose members were committed to liberalizing trade with one another while imposing a common external tariff (CET) on goods and services imported from non-members (Connelly, 1999).
Mercosur has not been without its problems, especially concerning the stability of the economy in some of the members (Colitt, 2001).
It has been proposed that Mercosur concede a 30% to 40% reduction on its import tariffs on goods from Caricom and MCCA.
Neither nation can easily afford to see its MERCOSUR exports dry up at a time when alternative export markets around the world are depressed.
Sources say the TEC will continue to be used as means to pressure Chile into joining Mercosur.
Japan and Mercosur, gathering for the fourth time, also decided to meet annually from now on and to involve representatives from the private sector to encourage investment and trade activities between the two sides, the official said.
Apart from NAFTA, the North American Free Trade Agreement, which includes one Latin American member state (Mexico), only one Latin American free market has come to fruition: Mercosur, the 'Market of the South'.