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Southern Common Market (MERCOSUR)

  • Nick Heath-Brown
Part of the The Statesman’s Yearbook book series (SYBK)

Abstract

Founded in March 1991 by the Treaty of Asunción between Argentina, Brazil, Paraguay and Uruguay, MERCOSUR committed the signatories to the progressive reduction of tariffs culminating in the formation of a common market on 1 Jan. 1995. This duly came into effect as a free trade zone affecting 90% of commodities. A common external tariff averaging 14% applies to 80% of trade with countries outside MERCOSUR. Details were agreed at foreign minister level by the Protocol of Ouro Preto signed on 17 Dec. 1994.

Keywords

Member State Common Market Free Trade Zone Framework Agreement General Treaty 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© The Editor(s) 2015

Authors and Affiliations

  • Nick Heath-Brown

There are no affiliations available

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