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2016 | OriginalPaper | Chapter

Southern Common Market (MERCOSUR)

Author : Palgrave Macmillan

Published in: The Statesman’s Yearbook

Publisher: Palgrave Macmillan UK

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Founded in March 1991 by the Treaty of Asunción between Argentina, Brazil, Paraguay and Uruguay, MERCOSUR committed the signatories to the progressive reduction of tariffs culminating in the formation of a common market on 1 Jan. 1995. This duly came into effect as a free trade zone affecting 90% of commodities. A common external tariff averaging 14% applies to 80% of trade with countries outside MERCOSUR. Details were agreed at foreign minister level by the Protocol of Ouro Preto signed on 17 Dec. 1994.

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previous chapter Secretariat for Central American Economic Integration (SIECA)
next chapter Union of South American Nations (UNASUR)
Metadata
Title
Southern Common Market (MERCOSUR)
Author
Palgrave Macmillan
Copyright Year
2016
Publisher
Palgrave Macmillan UK
Book
The Statesman’s Yearbook

Print ISBN: 978-1-137-44008-2

Electronic ISBN: 978-1-349-68398-7

Copyright Year: 2016

DOI
https://doi.org/10.1007/978-1-349-68398-7_93