Mercosur
From Freepedia
Image:Mercosur.png Image:MERCOSUR.png
Mercosur or Mercosul (Spanish: Mercado Común del Sur, Portuguese: Mercado Comum do Sul, English: Southern Common Market) is a trading zone between Brazil, Argentina, Uruguay, Venezuela(recently became a full member) and Paraguay, founded in 1991 by the Treaty of Asunción, which was later amended and updated by the 1995 Treaty of Ouro Preto. Its purpose is to promote free trade and the fluid movement of goods, peoples, and currency. Bolivia, Chile, Colombia, Ecuador, Mexico and Peru have associate member status.It has a south and middle America integration vocation.
Some South Americans see Mercosur as giving the capability to combine resources to balance the activities of other global economic powers, perhaps especially the United States and the European Union. The organization could also potentially pre-empt the Free Trade Area of the Americas (FTAA).
The development of Mercosur was arguably weakened by the collapse of the Argentine economy in 2002 and it has still seen internal conflicts over trade policy, between Brazil and Argentina, for example.
In December 2004 it merged with the Andean Community trade bloc (CAN) to form the South American Community of Nations. The prospect of increased political integration within the organization, as per the European Union and advocated by some, is still uncertain.
The name Mercosur is formed from both the Spanish and Portuguese phrase Mercado Común del Sur(Spanish), and "Mercado Comum do Sul"(Portuguese) which means "Southern Common Market". There are more than 220 million consumers in this region and the combined Gross Domestic Product of the member nations is more than one trillion dollars a year.
See also: trade bloc
External links
| Southern Common Market (Mercosur) | Image:Mercosur.png |
| Argentina | Brazil | Paraguay | Uruguay | Venezuela | |
| Associate Members | |
| Bolivia | Chile | Colombia | Ecuador | México | Perú | |
