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 ?
The Southern Common Market - Argentina, Brazil, Paraguay, and Uruguay - has added Chile as an associate member and is courting Bolivia, Mexico, and Venezuela.
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).
Due to its customs union with Switzerland, Liechtenstein is covered by the 7 bilateral agreements, in addition to its membership of the EEA (3) Bilateral agreements (4) Southern African Customs Union (Botswana, Lesotho, Namibia, South Africa and Swaziland) (5) Gulf Cooperation Council (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) (6) Iceland and China are conducting a joint feasibility study (7) Switzerland and Japan are conducting a joint feasibility study (8) Southern Common Market (Argentina, Brazil, Paraguay and Uruguay)
Are the Southern Common Market (Mercosur) and Washington's Free Trade Area of the Americas compatible?
Brazil, Uruguay and Argentina, together with Paraguay, form Mercosur, the acronym in Spanish for the Southern Common Market, the world's fourth largest economic area, a customs union with a population in excess of 200 million people and a combined GDP of approximately $1 trillion.
Venezuela has joined Mercosur, a free trade zone commonly known as the Southern Common Market.
President Marzouki announced that Tunisia will sign a partnership agreement with the Southern Common Market "Mercosur," which gathers the countries of Latin America, pointing out that this agreement will help "reinforce economic ties and facilitate trade exchanges with this regional bloc," a communique of the Presidency of the Republic released, on Wednesday, reads.
Summary: TEHRAN (FNA)- A senior Iranian Foreign Ministry official called for stronger ties between the Economic Cooperation Organization (ECO) and the Southern Common Market (Mercosur), saying that such interregional economic cooperation can help end the developing countries' dependence on the western powers.
2- Turkish State Minister & Chief Negotiator for EU talks Egemen Bagis will attend the 40th Southern Common Market (MERCOSUR) summit & ministerial meeting in Brazil.
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