 | |
| Motto: [citation needed]
| |
.svg) Green: full members. Red: suspended members. | |
| Headquarters | Montevideo |
| Largest city | São Paulo |
| Official languages | |
| Type | Intergovernmental organization and customs union |
| Membership |
1 suspended 2 observers |
| Leaders | |
| Santiago Peña | |
| Legislature | Parlasur |
| Formation | |
• Iguaçú Declaration | 30 November 1985 |
• Buenos Aires Act | 6 July 1990 |
| 26 March 1991 | |
| 16 December 1994 | |
| Area | |
• Total | 14,869,775[1] km2 (5,741,252 sq mi) (2ndb) |
• Water (%) | 1.0 |
| Population | |
• 2024 estimate |  295,007,000[2] (5thb) |
• Density | 23/km2 (59.6/sq mi) (204thb) |
| GDP (PPP) | 2022 estimate |
• Total |  US$5.195 trillion[3] (6thb) |
• Per capita | US$18,987[3] (78thb) |
| GDP (nominal) | 2022 estimate |
• Total | US$2.638 trillion[3] (8thb) |
• Per capita | US$9,643[3] (79thb) |
| HDI (2023) | 0.792[4] high (73tha) |
| Currency | |
| Time zone | UTC-2 to UTC-5 |
| Date format | dd/mm/yyyy (CE) |
Website www | |
| |
The Southern Common Market,[a] commonly known by Spanish abbreviation Mercosur, and Portuguese Mercosul, 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, Bolivia, Brazil, Paraguay and Uruguay. Venezuela is a full member but has been suspended since 1 December 2016. Associate countries are, Chile, Colombia, Ecuador, Guyana, Peru, and Suriname.[5] Bolivia became a full member on 8 July 2024.[6]
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, 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 2023, the Mercosur had generated a nominal gross domestic product (GDP) (PPP) of around 5.7 trillion US dollars, placing the bloc as the 5th largest economy in the world. The bloc places high on the human development index.
- ^ "MERCOSUR Official Website".
- ^ "MERCOSUR Official Website".
- ^ a b c d "Report for Selected Countries and Subjects". www.imf.org. April 2019. Archived from the original on 7 June 2020. Retrieved 8 November 2022.
- ^ "2020 Human Development Report" (PDF). United Nations Development Programme. 2020. Archived (PDF) from the original on 15 December 2020. Retrieved 16 December 2020.
- ^ "De West – Suriname en Guyana officieel Geassocieerd Lid Mercosur -". 20 July 2015. Archived from the original on 29 August 2016. Retrieved 2 December 2016.
- ^ Ingreso pleno al Mercosur: Bolivia es ahora un eje integrador en la región Consulted 08 July 2024.
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