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%.
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 ?
Discussions broke down late last year after Mercosur demanded a larger share of Europe's sugar, beef and poultry market, and the EU sought access to the Southern Cone Common Market's services and public procurement markets.
Mostly, there are trade benefits for operating in Southern Cone Common Market, or Mercosur, the trade bloc made up of Argentina, Brazil, Paraguay, and Uruguay.
Hit by a lawsuit by tobacco company Philip Morris International that could cost it hundreds of millions of dollars if it loses, Uruguay has received the support of the governments of 171 countries, the World Health Organization (WHO), the Southern Cone Common Market (MERCOSUR), and hundreds of nongovernmental organizations (NGOs) throughout the world that consider the small South American country's measures restricting tobacco consumption an example for others to follow in defending public health.
The agreement went into effect just months before Mexico became an associate member of the Southern Cone Common Market (MERCOSUR).
The Latin American Southern Cone Common Market Mercosur presented its negotiating offer to the European Commission on September 25 for a free trade pact between the two trading blocs.
He said the US strategy was to prevent "at all costs" the consolidation of the Southern Cone Common Market (MERCOSUR) so that it could not negotiate with the US from a position of strength.
17, brought together the presidents of the four Southern Cone Common Market (MERCOSUR) countries (Argentina, Brazil, Paraguay, and Uruguay) plus the four associate members (Bolivia, Chile, Colombia, and Peru).
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).
EU leaders expressed the greatest satisfaction over the willingness of Southern Cone Common Market (MERCOSUR) countries to press forward with free-trade talks.
He integrated Argentina into the region, backing the customs union of the Southern Cone Common Market (MERCOSUR) and the creation of UNASUR.
Chavez said his country is looking to expand its trade with the Southern Cone Common Market (MERCOSUR), comprising Brazil, Argentina, Paraguay, and Uruguay.
The meeting would not normally have been that newsworthy, since the leaders of the two neighboring countries, both members of the Southern Cone Common Market (MERCOSUR), meet regularly several times a year.

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