Southern Cone Common Market (MERCOSUR/MERCOSUL)

Mercado Común do Cono Sur

Mercado Comum de Cone Sul

Established: By treaty signed on March 26, 1991, at Asunción, paraguay, by the presidents of Argentina, Brazil, Paraguay, and Uruguay.

Purpose: To establish a regional “common market of the southern cone” through the harmonization of policies in agriculture, industry, finance, transportation, and other sectors; to promote economic development through expanded extraregional trade and the pursuit of foreign investment.

Headquarters: Montevideo, Uruguay.

Principal Organs: Council of the Common Market, Common Market Group, Joint Parliamentary Commission, Secretariat.

Director of the Secretariat: Eduardo Duhalde (Argentina).

Membership: (4): Argentina, Brazil, Paraguay, Uruguay.

Associate Members (6): Bolivia, Chile, Colombia, Ecuador, Peru, Venezuela.

Official Languages: Portuguese, Spanish.

Origin and development. The idea of a regional common market was first advanced in the late 1980s by Argentina and Brazil, which had recently ...

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