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%.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The ambassador explained, "In the South American region, Argentina along with Brazil, Paraguay and Uruguay form the MERCOSUR Southern Common Market , the most important market in the region.
Regional economic integration groupings in Africa, Asia and the Pacific, and Latin America and the Caribbean have consolidated their free trade agreements and customs union arrangements, such as in Mercosur (or the Southern Common Market), the Common Market for Eastern and Southern Africa (COMESA), the South Asian Association for Regional Cooperation (SAARC) and the Association of Southeast Asian Nations (ASEAN).
AaAaAa The commitment was made at the 1st meeting of the Morocca-Brazilian joint committee for promoting trade and investments held in Brasilia.Aa AaAaThe meeting was an opportunity for the two parties to stress the need to set up a joint business council and showcase the reforms launched in Morocco to attract more foreign investments.AaAaAa Addressing the meeting, Secretary General to the Moroccan Ministry of Foreign Trade, El-Aid Mahsoussi underlined Morocco's willingness to promote economic partnership with Brazil to mirror the the exelent bilateral political relations.AaAaAa Members of the Brazilian delegation said their country, which holds the 2010 Presidency of the Southern Common Market (Mercosur), intends to add a new momentum to the economic relations with Morocco.
AaAaAa The Latin America-EU Summit is aimed at signing an agreement with the Southern Common Market (Mercosur), he added.
ANSWERS: 1 A dam; 2 Manchester; 3 The St Lawrence; 4 Superglue; 5 George V; 6 American Express; 7 The Southern Common Market; 8 Buster; 9 What's My Line?; 10 Ringo Starr.
The first part focuses on the complexity of multilateral negotiations involving the expansion of the North American Free Trade Agreement (NAFTA), the revival of the Southern Common Market (MERCOSUR), and the implementation of the Free Trade Area of the Americas (FTAA).
He also agreed with his Brazilian counterpart to continue discussions on the conclusion of an FTA between Korea and MERCOSUR (Southern Common Market, a regional trade agreement in South America) member countries.
MONTEVIDEO, Uruguay -- South America's two large trade blocs--the Southern Common Market and Andean Community of Nations--have signed an agreement to phase out all import tariffs among members over the next 15 years, with a view toward eventually creating an immense free trade zone in the region.
He also began free trade talks with the Southern Common Market (Mercosur) trade block, the European Union and with Peru.
* "National and Regional Standards" covers regulations for food additives, contaminants, and pesticides in the United States; European Community legislation on limits for additives and contaminants in food; the development of Australia/New Zealand standards; and Southern Common Market standards.
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.

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