Concept information
Preferred term
mercosur/mercosul
Definition
- The Southern Common Market—Mercosur in Spanish, Mercosul in Portuguese—is an international and intergovernmental organization with the objective to create first a free trade area, and subsequently, a customs union and a common market. It was instituted on March 26, 1991, by the signing of the Treaty of Asuncion that constituted a common market between Argentina, Brazil, Paraguay, and Uruguay, as a culmination of the process of a bilateral program of integration and cooperation already engaged by Brazil and Argentina since 1985. [Source: Encyclopedia of Business in Today's World; Mercosur/Mercosul]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/mercosur_mercosul
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