The Common Market of the South (MERCOSUR for its Spanish initials) is an integration process of the South American region, constituted by Argentina, Brazil, Paraguay, Uruguay and Venezuela (State Parties), while Bolivia (in the process of accession), Chile, Colombia, Ecuador, Guyana, Peru and Suriname are Associated States.
Since its beginnings, this dynamic and open process chases the objective of providing a common space to create commercial and investment opportunities through competitive integration of national economies into the international market.
As a result, the organism has established multiple agreements with countries or country groups, these being the Associate States. These participate in activities and bloc reunions and have commercial preferences with State Parties. The MERCOSUR has also signed commercial, political or cooperative agreements with a diverse amount of nations and organisms in all five continents.
The main products that the MERCOSUR exports to the rest of the world are soy, petroleum, iron, corn and soy flour, and the main destinations are Asia, the European Union and North America.
On 1991, after the Treaty of Asunción for the Constitution of a Common Market was signed, the creation of the MERCOSUR was established. The creation of this organism implies:
Operations
The
Council of the Common Market (CMC), the Common Market Group (GMC) and
the Mercosur Trade Commission (CCM) are the three main bodies that
make consensual
decisions,
on
the presence of each of the State Parties.
The
CMC
seeks
to integrate the policies of the Member States,
the GMC
reviews
the daily operations of the bloc, and the CCM is responsible for the
administration of common trade policy instruments.
Contact
1992 Dr. Luis Piera St. - 1st floor
Montevideo, Uruguay
Zip code: 11200
Tel.: (+598) 2412 9024
References
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