Mercosur


Also found in: Financial, Acronyms, Encyclopedia, Wikipedia.
Related to Mercosur: Unasur

Mercosur

(ˈmɜːkəˌsə)
n
(Economics) a trading block composed of Argentina, Brazil, Paraguay, Uruguay, and Venezuela, with associate members Bolivia, Chile, Colombia, Ecuador, and Peru; superseded in 2008 by the Union of South American Nations (Unasur or Unasul), by uniting with the Andean Community
[C20: from Spanish Mercado Común del Cono Sur common market of the southern cone]
References in periodicals archive ?
The summit brought together Macri, Brazilian President Jair Bolsonaro, Uruguay's Tabare Vazquez and Paraguay's Mario Abdo as well as the leaders of two countries associated with Mercosur, Evo Morales from Bolivia and Sebastian Pinera from Chile.
During the debate, held between the Ministers of Foreign Affairs, the Pro Tempore Presidency of Mercosur said that this regional integration body will always be ready to support Colombia's efforts for peace, which is fundamental for regional stability.
Following an FTA with Japan that took effect in February - also the result of long, arduous negotiations - the pact with Mercosur, an open trade and border union of Brazil, Argentina, Uruguay and Paraguay, means the EU is on track to tariff-free trade with a significant proportion of the global business community.
Pakistan has an annual bilateral trade of US$ 1 billion with Mercosur countries.
The Ministry of Commerce is making efforts to restart negotiations on clinching preferential and free trade agreements with Mercosur a trade bloc comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela.
"The EU has not responded to moves by Mercosur as we had expected," he said.
'Palm is an essential commodity for Indonesia's economy and citizens, and Indonesia hopes that the tariff on palm products of MERCOSUR member countries, including Argentina, can be lowered,' said FM Retno.
South Korea signed an agreement to launch the negotiations with four Mercosur member states -- Brazil, Argentina, Paraguay and Uruguay -- during a ceremony held in Seoul.
The Ministry of Commerce says it recognises 'the immense trade potential' of the South American region and has taken steps to enhance trade with South American countries and Mercosur as a bloc.
It said steps have been carried to improve trade with Mercosur and South American countries on a whole.
The ministry said that trade exchange between Egypt and Mercosur members is $3.3bn annually.
Mercosur is an economic and political bloc comprising Argentina, Brazil, Paraguay, and Uruguay, and Venezuela.