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 ?
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 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.
The government of Venezuelan President Hugo Chavez has accused the US of interfering with its bid to join the Southern Cone Common Market (MERCOSUR) as a full member.
Chavez said his country is looking to expand its trade with the Southern Cone Common Market (MERCOSUR), comprising Brazil, Argentina, Paraguay, and Uruguay.
The concept for the Banco del Sur was first approved in July 2006 during the 30th Summit of the Southern Cone Common Market (MERCOSUR) when Venezuela debuted as a member of the group.
The comments from SRE officials coincided with an announcement from Fox that his government was negotiating agreements with individual members of the Southern Cone Common Market (MERCOSUR) as a first step toward eventually completing an accord with the South American trade bloc.
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).
But both the EU team and the Southern Cone Common Market quartet of Argentina, Brazil, Uruguay and Paraguay are hoping to wrap up a wide-ranging Association Agreement by October (see issues 2861 and 2863 for more details).
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.
The road will connect the Hidrovia region in Eastern Bolivia to the rest of the country, maximising the area's great agricultural potential; at a regional level, it will also boost integration between the five-nation Andean Community and the Southern Cone Common Market Mercosur, enhancing Bolivia's position as a natural crossroads between Brazil and the Andes.
Some products are also covered through an agreement Mexico has negotiated with the Southern Cone Common Market (MERCOSUR).

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