Concept in Definition ABC

The word Mercosur is he acronym that is widely used in the Spanish language to designate the Southern Common Market. Meanwhile, Mercosur is a subregional bloc made up of the following countries: Argentina, Uruguay, Paraguay, Venezuela and Brazil, but also has other countries in the region that join it as partners such as: Chile, Ecuador, Peru, Bolivia and Colombia, while as observers they are counted New Zealand and Mexico.

On March 26, 1991, it was formally inaugurated through the signing of the Treaty of Asunción. and in this precisely its fundamental bases were laid: the free circulation of services, goods and factors from production among member countries; stipulation of a common external tariff and the coordination of a politics from Commerce common; establishment of macroeconomic policies among the member nations; and consonance of the laws with the mission of strengthening the integration.

It should be noted that Mercosur currently supports the free movement of citizens that make up the bloc.

Now, although its formal establishment, as we have already said, took place in March 1991, with the signing of the Treaty of Asunción, the intention of the integration of the region would be born many years before, in 1985, when in the call Declaration of Foz do Iguaçu, the Argentina and Brazil signed a bilateral agreement. This alliance sealed by the presidents of that time, Raúl Alfonsín and José Sarney, respectively, is taken as the antecedent of Mercosur.

Meanwhile, its legal status of International right would be established in the Ouro Preto Protocol which was signed in December 1994 and which would enter into force one year later. This agreement would be of the utmost importance since it would establish the common external tariff. Starting in 1999, a duty-free zone was established, however, there are some products that were exempted from the agreement, such as sugar.

Mercosur is undoubtedly one of the most important economic powers on the planet given that it has a GDP of 3.641 trillion dollars, something like 82.3% of the GDP of all South America. This situation is especially due to its large industrial platform, very dynamic, developed and highly competitive.

They have been decreed as official languages ​​of the market Portuguese and Spanish.
The motto it promotes is our north is south.