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Mercosur

/ˈmɜːkəˌsə/
noun
1.
a trading block composed of Argentina, Brazil, Paraguay, Uruguay, and Venezuela, with associate members Bolivia, Chile, Colombia, Ecuador, and Peru; superceded in 2008 by the Union of South American Nations (Unasur or Unasul), by uniting with the Andean Community
Word Origin
C20: from Spanish Mercado Común del Cono Sur common market of the southern cone
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
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Related Abbreviations for mercosur

Mercosur

Spanish Mercado Común del Cono Sur (Southern Cone Common Market)
The American Heritage® Abbreviations Dictionary, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Encyclopedia Article for mercosur

Common Market of the South

South American regional economic organization. Mercosur grew out of earlier efforts to integrate the economies of Latin America through the Latin American Free Trade Association (1960) and its successor, the Latin American Integration Association (1980). In 1985 Argentina and Brazil signed the Declaration of Iguacu, which created a bilateral commission to promote the integration of their economies; by the following year the two countries had negotiated several commercial agreements. The 1988 Treaty for Integration, Cooperation, and Development committed Argentina and Brazil to work toward the establishment of a common market within 10 years, and it invited other Latin American countries to join. Mercosur was created in 1991 by the Treaty of Asuncion, which was signed by the heads of state of Argentina, Brazil, Paraguay, and Uruguay. Several other countries were later admitted as associate members, and in 2006 Venezuela became a full member. Mercosur is headquartered in Montevideo, Uruguay.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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