Mercosur

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Related to Southern Common Market: Southern Cone Common Market

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, the Southern Common Market, was formed by the Treaty of Asunci[acute{o}]n signed on 26th March 1991, involving Argentina, Brazil, Paraguay and Uruguay, and came into effect on 31st November 1991.
The 15-nation European Union has opened free trade discussions with Mexico and the Southern Common Market.
Free trade agreements are in place with Bolivia, Brunei, Canada, Central America, China, Colombia, Cuba, Ecuador, the European Free Trade Association (EFTA), the European Union (EU), the Southern Common Market (MERCOSUR), India, Japan, Mexico, New Zealand, Panama, Peru, Singapore, South Korea, the US, and Venezuela.
They also expressed their firm intention to strengthen integration in Latin America, and welcomed the rapprochement between the Pacific Alliance and the Southern Common Market countries (Mercosur), with the adoption of a roadmap for future development Technical work.
On external exchanges, Rousseff said her foreign policy would center on South America, particularly on strengthening relations with members of the Southern Common Market and the Union of South American Nations.
TUNIS, (TAP) Tunisia's request to conclude a preferential trade agreement with Southern Common Market (Mercosur) which gathers the countries of Southern America, was the focus of a working session held Thursday in Tunis.
He also stressed the importance of Venezuela's entry into the Southern Common Market (Mercosur), a regional trade bloc that also includes Argentina, Brazil, Uruguay and Paraguay.
3- Turkish State Minister & Chief Negotiator for EU talks Egemen Bagis will depart from Brazil for Turkey after attending the General Assembly meeting of Southern Common Market (MERCOSUR).
He then empirically analyzes the institutions of the System of Central American Integration, the Andean Community of Nations, the Caribbean Community, and the Southern Common Market in Latin America and the Caribbean; the Gulf Cooperation Council, the Association of Southeast Asian Nations, and the South Asian Association of Regional Cooperation in Asia; the African Union, the Economic Community of West Africa, and the South African Development Community in Africa; the Pacific Islands Forum; and the Commonwealth of Independent States.
In a statement to SANA, Moran expressed the Chamber of Deputies' support for signing an agreement to establish a free trade zone between the Southern Common Market (MERCOSUR) and Syria whose strategic position will help make it a trade gateway for MERCOSUR member states to the Middle East, and particularly to the Arab countries.
Some examples are the Southern Common Market in Latin America, the Common Market for Eastern and Southern Africa and the India, Brazil and South Africa trilateral agreement.
In an interview published Wednesday by Moroccan daily "Le Matin du Sahara et du Maghreb", the Brazilian diplomat recalled the visit that the sovereign paid to Brazil in 2004 and that was crowned by the signing of several agreement including one between Morocco and the Southern Common Market (Mercosur).

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