Definitions for MERCOSUR
mer·co·sur

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1. Mercosur

   Mercosur (in Spanish), Mercosul (in Portuguese), or Ñemby Ñemuha (in Guarani), officially Southern Common Market, is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994. Its full members are Argentina, Brazil, Paraguay, and Uruguay. Venezuela is a full member but has been suspended since 1 December 2016. Associate countries are Bolivia, Chile, Colombia, Ecuador, Guyana, Peru, and Suriname.The name Mercosur is a Spanish portmanteau of Mercado Común del Sur (Portuguese Mercosul, portmanteau of Mercado Comum do Sul) which both mean "Common Market of the South". Mercosur's origins are linked to the discussions for the constitution of a regional economic market for Latin America, which go back to the treaty that established the Latin American Free Trade Association in 1960, which was succeeded by the Latin American Integration Association in the 1980s. At the time, Argentina and Brazil made progress in the matter, signing the Iguaçu Declaration (1985), which established a bilateral commission, which was followed by a series of trade agreements the following year. The Integration, Cooperation and Development Treaty, signed between both countries in 1988, set the goal of establishing a common market, to which other Latin American countries could join. Paraguay and Uruguay joined the process and the four countries became signatories to the Treaty of Asunción (1991), which established the Southern Common Market, a trade alliance aimed at boosting the regional economy, moving goods, people among themselves, workforce and capital. Initially a free trade zone was established, in which the signatory countries would not tax or restrict each other's imports. As of 1 January 1995, this area became a customs union, in which all signatories could charge the same quotas on imports from other countries (common external tariff). The following year, Bolivia and Chile acquired membership status. Other Latin American nations have expressed interest in joining the group. Mercosur's purpose is to promote free trade and the fluid movement of goods, people, and currency. Since its foundation, Mercosur's functions have been updated and amended many times; it currently confines itself to a customs union, in which there is free intra-zone trade and a common trade policy between member countries. In 2019, the Mercosur had generated a nominal gross domestic product (GDP) of around 4.6 trillion US dollars, placing the bloc as the 5th largest economy in the world. The bloc places high on the human development index. It has signed free trade agreements with Israel, Egypt, Japan and the European Union, among others.

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1. Mercosur

   Mercosur or Mercosul is a sub-regional bloc comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela. Its associate countries are Chile, Bolivia, Colombia, Ecuador and Peru. Observer countries are New Zealand and Mexico. Its purpose is to promote free trade and the fluid movement of goods, people, and currency. The official languages are Spanish, Portuguese and Guaraní. It has been updated, amended, and changed many times since. It is now a full customs union and a trading bloc. Mercosur and the Andean Community of Nations are customs unions that are components of a continuing process of South American integration connected to the Union of South American Nations.

How to pronounce MERCOSUR?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say MERCOSUR in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of MERCOSUR in Chaldean Numerology is: 5

2. Pythagorean Numerology

   The numerical value of MERCOSUR in Pythagorean Numerology is: 4

Examples of MERCOSUR in a Sentence

1. Heiko Maas:

   The Mercosur agreement ... gives us possibilities and means to exert pressure to influence things on the ground (in Brazil).

2. European Commission:

   This is the best way to create legally binding commitments with countries that we want to respect our environmental standards, the best tool that we have is the EU-Mercosur agreement.

3. Leo Varadkar:

   There is no way that Ireland will vote for the EU-Mercosur Free Trade Agreement if Brazil does not honor its environmental commitments.

4. Mauricio Macri:

   We have to boost integration. We want a Mercosur for the twenty-first century, which has a view towards integrating with the Pacific Alliance. I believe that path is absolutely better for everyone.

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References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Mercosur
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=MERCOSUR