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 ?
Argentina and Brazil are proposing that part of the agreement enter into force provisionally before it is ratified by the EU and Mercosur countries to get the free trade started, according to daily Clarin.
On the occasion of the Mercosur Summit, the Presidents of Argentina, Brazil, Paraguay and Uruguay, with the accession of Chile, Colombia, Peru, Ecuador, Guyana and Suriname, signed a Special Declaration on the situation in Venezuela.
With Trump continuing to use threatened tariffs as a weapon, the timing and irony of the EU- Mercosur pact was clear.
As Pakistan's request is being taken up by External Relations Group of Mercosur, the ministry has intensified its 'Trade Diplomacy' efforts by engaging embassies of Brazil and Argentina in Islamabad.
The FTA would provide an opportunity to bridge the trade deficit with Mercosur countries, the secretary emphasised and called Argentina and Brazil lucrative markets but Pakistan was mainly focused on textile exports.
Nunes said he did not see any chance of altering the quota offered by the EU commission for imports of Mercosur beef of 99,000 tonnes a year, which is less than the European offer made in 2004.
South Korea exported $6.6 billion worth of goods to Mercosur states in 2017, up 20.6 percent from a year earlier, mostly electronics parts and autos.
Dr Michel Alaby, secretary general and CEO of ABCC, said: "As the Free Trade Agreement signed between Mercosur and Egypt comes into effect, we can expect to witness a boost in trade as well as a strengthening of the partnership between Brazil and Egypt."
The Mercosur countries form a free trade area and an increasingly integrated market of 250 million consumers (5).
Nin Novoa said Uruguay is awaiting "a date for China's foreign minister to receive us, in order to go with President Tabare Vazquez -- which will hopefully take place during our pro-tempore presidency (of Mercosur) -- so that we can make a proposition of this sort."
NNA - Minister of Economy and Trade, Alain Hakim, held on Monday a meeting with ambassadors of the Mercosur countries: Paraguay, Brazil, Argentina, Venezuela and Uruguay.