Mercosur

(redirected from Southern Cone Common Market)
Also found in: Dictionary, Encyclopedia.

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 ?
Mexican and Argentine officials said the expansion of the agreement is another step to consolidate Mexico's status as an associate member of the Southern Cone Common Market (MERCOSUR).
The Uruguayan government, frustrated with its role in the Southern Cone Common Market (MERCOSUR), has looked to the wealthier export market of the US and other countries like China and India as alternatives (see NotiSur, 2006-09-22).
De Mateo said Mexico views the agreement with Brazil as a first step toward negotiating a similar accord with other members of the Southern Cone Common Market (MERCOSUR).
Efforts to consolidate the Southern Cone Common Market (MERCOSUR) appear to be bogging down as Chile expresses its frustrations with the Argentine government and as other international disputes drag on.
Some products are also covered through an agreement Mexico has negotiated with the Southern Cone Common Market (MERCOSUR).
Venezuela is formally joining the Southern Cone Common Market (MERCOSUR) as a full member, with work on that process scheduled for a July 4 presidential summit in Caracas and another on July 20-21 in Cordoba, Argentina.
Negotiations with the Southern Cone Common Market (MERCOSUR) and the EU as well as US-led efforts to build a hemisphere-encompassing Free Trade Area of the Americas (FTAA) have come to a halt as the richer countries have refused to reduce subsidies to their respective agroindustries.
Neighboring countries that are fellow members in the Southern Cone Common Market (MERCOSUR), however, have expressed serious concerns that Uruguay would unilaterally open the South American trade bloc to US entry.
The Venezuelan government has announced its intention to become the fifth full and permanent member of the Southern Cone Common Market (MERCOSUR) in time for the body's December 8-9 meeting.
Chavez also recently announced the decision to make Venezuela a full member of the Southern Cone Common Market (MERCOSUR).
Countries of the Southern Cone Common Market (MERCOSUR) have met with European Union (EU) officials to set a timeline for renewing failed negotiations for a free-trade and political-association agreement.
Countries in the Southern Cone Common Market (MERCOSUR) have proposed an "energy ring" that would distribute natural gas through a gas line network that would connect five countries.

Full browser ?