mercosur

The Southern Common Market (MERCOSUR for its Spanish initials) is a regional integration process, initially established by Argentina, Brazil, Paraguay and Uruguay, and subsequently joined by Venezuela and Bolivia.

  • Bolivia is still complying with the accession procedure while Venezuela has been suspended since 1 December 2016. 
  • Mercosur is also called as a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994. 
  • its main objective has been to promote a common space that generates business and investment opportunities through the competitive integration of national economies into the international market.