Mercosur

MercosulSouthern Cone Common MarketSouthern Common Marketan aim of MercosurCommon Market of the South (Mercosur)Mercado Común del Cono Sur (MERCOSUR)Mercado Común del SurMercosul/Mercosur passportMercosur (Argentina, Brazil, Paraguay, Uruguay and Venezuela)MERCOSUR / MERCOSUL
Mercosur (in Spanish), Mercosul (in Portuguese), or Ñemby Ñemuha (in Guarani), officially Southern Common Market, is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994.wikipedia
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Guarani language

GuaraníGuaraniGuaraní language
Mercosur (in Spanish), Mercosul (in Portuguese), or Ñemby Ñemuha (in Guarani), officially Southern Common Market, is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994.
It is spoken by communities in neighboring countries, including parts of northeastern Argentina, southeastern Bolivia and southwestern Brazil, and is a second official language of the Argentine province of Corrientes since 2004; it is also an official language of Mercosur.

Argentina

ArgentineARGArgentinian
Its full members are Argentina, Brazil, Paraguay and Uruguay.
It is also a founding member of the United Nations, World Bank, World Trade Organization, Mercosur, Union of South American Nations, Community of Latin American and Caribbean States and the Organization of Ibero-American States.

Brazil

BRABrasilBrazilian
Its full members are Argentina, Brazil, Paraguay and Uruguay.
Brazil is a founding member of the United Nations, the G20, BRICS, Union of South American Nations, Mercosul, Organization of American States, Organization of Ibero-American States and the Community of Portuguese Language Countries.

Uruguay

UruguayanOriental Republic of UruguayRepublic of Uruguay
Its full members are Argentina, Brazil, Paraguay and Uruguay.
Uruguay is a founding member of the United Nations, OAS, Mercosur, UNASUR and NAM.

Colombia

COLRepublic of ColombiaColombian
Associate countries are Bolivia, Chile, Colombia, Ecuador, Guyana, Peru and Suriname.
It is part of the CIVETS group of leading emerging markets and a member of the UN, the WTO, the OAS, the Pacific Alliance, an associate member of Mercosur and other international organizations.

Paraguay

ParaguayanRepublic of ParaguayEstablished
Its full members are Argentina, Brazil, Paraguay and Uruguay.
With around seven million inhabitants, Paraguay is a founding member of Mercosur, an original member of the United Nations, the Organization of American States, the Non-Aligned Movement and the Lima Group.

Venezuela

VenezuelanBolivarian Republic of VenezuelaVEN
Venezuela is a full member but has been suspended since December 1, 2016.
Venezuela is a charter member of the UN, OAS, UNASUR, ALBA, Mercosur, LAIA and OEI.

Treaty of Asunción

Mercosur (in Spanish), Mercosul (in Portuguese), or Ñemby Ñemuha (in Guarani), officially Southern Common Market, is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994.
The objective of the treaty, signed in Asunción, was to establish a common market among the participating countries, popularly called Mercosur (Southern Common Market).

Free trade

trade liberalizationfree-tradetrade liberalisation
Mercosur's purpose is to promote free trade and the fluid movement of goods, people, and currency.
An alternative approach, of creating free trade areas between groups of countries by agreement, such as that of the European Economic Area and the Mercosur open markets, creates a protectionist barrier between that free trade area and the rest of the world.

Mercosur Parliament

ParlasurParliamentParliament of Mercosur
The founding of the Mercosur Parliament was agreed upon at the December 2004 presidential summit.
The Mercosur Parliament (Parlamento del Mercosur, Parlamento do Mercosul), known also as Parlasur, or Parlasul, is the parliamentary institution of the Mercosur trade bloc.

Trade bloc

List of trade blocstrading bloctrade blocs
Mercosur (in Spanish), Mercosul (in Portuguese), or Ñemby Ñemuha (in Guarani), officially Southern Common Market, is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994.

South America

South AmericanSouthSouth-America
Mercosur (in Spanish), Mercosul (in Portuguese), or Ñemby Ñemuha (in Guarani), officially Southern Common Market, is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994.
The last twenty years have seen an increased push towards regional integration, with the creation of uniquely South American institutions such as the Andean Community, Mercosur and Unasur.

Horacio Cartes

Horacio Manuel Cartes Jara
After suspending Paraguay in 2012, the presidents of the Mercosur countries (Argentina, Brazil, Uruguay, and Venezuela) said in July 2013 that they would lift the suspension after the inauguration of Paraguay's newly elected President, Horacio Cartes, on 15 August 2013.
In regards to the impeachment of Fernando Lugo and the negative reception the country was given in the aftermath by Latin American leaders, Cartes defended the legality of the impeachment and said that Paraguay should not withdraw from Mercosur, pointing to economic benefits of the common market and free trade.

Protocol of Ouro Preto

Treaty of Ouro Preto
Mercosur (in Spanish), Mercosul (in Portuguese), or Ñemby Ñemuha (in Guarani), officially Southern Common Market, is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994.
The 1994 Protocol of Ouro Preto was the continuation of economic policies setting up a customs union, as set forth four years earlier in the Treaty of Asunción by the four original Mercosur states.

Ecuador

ECURepublic of EcuadorEcuadorian
Associate countries are Bolivia, Chile, Colombia, Ecuador, Guyana, Peru and Suriname.
Ecuador has negotiated bilateral treaties with other countries, besides belonging to the Andean Community of Nations, and an associate member of Mercosur.

Gaucho (currency)

Gaucho
The protocol Number 20 of the program also proposed the Gaucho as a currency for regional trade.
Mercosur, an economic bloc including Brazil and Argentina, establishing broader economic integration, was created in 1991, without any initial plans to establish a common currency.

José Sarney

SarneyJose SarneyJosé Sarney de Araújo Costa
Mercosur originated in 1988, when presidents Raúl Alfonsín of Argentina and José Sarney of Brazil signed the Argentina-Brazil Integration and Economics Cooperation Program or PICE (Portuguese: Programa de Integração e Cooperação Econômica Argentina-Brasil, Spanish: Programa de Integración y Cooperación Económica Argentina-Brasil).
The agreement led to the formation of the Mercosur in 1991.

Customs union

customsCUcustom union
Since its foundation, Mercosur's functions have been updated and amended many times; it currently confines itself to a customs union, in which there is free intra-zone trade and a common trade policy between member countries.

Raúl Alfonsín

Raul AlfonsinAlfonsínRaul Alfonsín
Mercosur originated in 1988, when presidents Raúl Alfonsín of Argentina and José Sarney of Brazil signed the Argentina-Brazil Integration and Economics Cooperation Program or PICE (Portuguese: Programa de Integração e Cooperação Econômica Argentina-Brasil, Spanish: Programa de Integración y Cooperación Económica Argentina-Brasil).
This led to the 1991 Treaty of Asunción, that created the Mercosur.

Impeachment of Fernando Lugo

impeachedimpeachment22 June 2012 parliamentary coup
Following the impeachment of President Fernando Lugo by the Paraguayan Senate, this country was suspended from Mercosur, and the admittance of Venezuela as a full member became effective on 31 July 2012.
Brazilian president Dilma Rousseff proposed suspending Paraguay's membership in Mercosur and the Union of South American Nations.

Free Trade Area of the Americas

FTAAfree market allianceFree Trade Area of the Americas (FTAA)
The organization could also potentially pre-empt the Free Trade Area of the Americas (FTAA); however, over half of the current Mercosur member countries rejected the FTAA proposal at the IV Cumbre de las Américas (IV Summit of the Americas) in Argentina in 2005.
Opposing the proposal were Cuba, Venezuela, Bolivia, Ecuador, Dominica, and Nicaragua (all of which entered the Bolivarian Alternative for the Americas in response), and Mercosur member states.

Common external tariff

Common Customs Tariffcustoms dutiesTariff
In this respect, the trade commission can propose a change in the import duty on specific items under common external tariffs, including cases referring to development of new Mercosur production activities.
Important examples of common external tariff are that of the Mercosur countries (Brazil, Argentina, Venezuela, Paraguay and Uruguay), the Common Customs Tariff of the Eurasian Economic Community customs union as well as the European Union Customs Union.

European Union–Mercosur free trade agreement

EU–Mercosur Free Trade Agreementa free trade deal
In June 2019, the European Union–Mercosur Free Trade Agreement was confirmed.
The European Union–Mercosur free trade agreement is a free trade agreement on which the EU and Mercosur reached agreement in principle in 2019.

Andean Community

Andean Community of NationsCANAndean Pact
In 2004, Mercosur signed a cooperation agreement with the Andean Community of Nations trade bloc (CAN) and they published a joint letter of intent for future negotiations towards integrating all of South America.
Recently, with the new cooperation agreement with Mercosur, the Andean Community gained four new associate members: Argentina, Brazil, Paraguay, and Uruguay.

Pacific Alliance

President ''pro tempore'' of the Pacific AllianceAlianza del PacíficoPresident pro tempore of the Pacific Alliance
According to the World Trade Organization (WTO), the countries of the Pacific Alliance together exported about $445 billion in 2010, almost 60% more than Mercosur, the other predominant Latin American trade bloc.