Mercosur

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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 ?
PORRATA-DORIA, JR., MERCOSUR: THE COMMON MARKET OF THE SOUTH 7-9 (2005) [hereinafter PORRATA-DORIA, MARKET OF THE SOUTH] (explaining theoretical stance of ECLA); see also Mace, supra note 9, at 408 (describing ECLA as "most vocal proponent of economic integration in the region").
Much of his discussion centers around Mercosur, The Common Market of the South, particularly its origin and development, nature and dynamics, and potential.
Mercosur is the Common Market of the South free trade bloc, encompassing Argentina, Bolivia, Brazil, Chile, Paraguay and Uruguay.
The papers provide historical case studies of the Peace of Westphalia, the Congress of Vienna, the Austrian State Treaty, the Dayton agreement in Bosnia, Israeli-Palestinian negotiations, the construction of Mercosur (the Common Market of the South), Cyprus, post-Apartheid South Africa, Mozambique, and the Nagorno-Karabakh region of the former Soviet Union.