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Basic Information about Mercosur (Mercado común del Sur)

What is Mercosur?

 

MERCOSUR is the duty union created by for countries of South America: Argentina, Brazil, Paraguay and Uruguay, on March 26th in 1991, they are full members. Besides: Bolivia, Chile, Colombia, Ecuador, Perú and Venezuela are associated members.

Treaty for the constitution of a Common Market:

http://www.mercosur.int/innovaportal/file/719/1/CMC_1991_TRATADO_ES_Asuncion.pdf

Three years later, in december 1994, this duty union was legally recognized in the world, with the Ouro Preto´s approbation, by which was established besides, the institutional structure of Mercosur.

Additional Protocol on the institutional structure of Mercosur:

http://www.mercosur.int/innovaportal/file/721/1/1994_protocoloouropreto_es.pdf

This common market imply:

Free circulation of goods, services, and productive factors (Money and work), through the elimination of duty rights and non duty restrictions to the merchandise circulation.

The settlement of a Common External Duty (Arancel Externo Común – A.E.C.-) and the adoption of a commercial common politic related to other countries or organizations of states, and the position coordination in economic-commercial forums, regional or internationals.

The coordination of macro economical and regional politics of the state members, according to external commerce, agricultural, industrial, monetary, change and about capitals, services, duty policy, transport and communications and many others, with the objective to assure the conditions to be competitive.

The compromise between the state members to harmonize their laws, in appropriates fields, to reach a strength integration process.

 

Institutional Structure and Organs:

CMC - Council of the Common Market.

GMC - Group of the Common Market.

CCM - Trade Commission of Mercosur.

PM - Parliament of Mercosur.

FCES - Economic-Social Consultative Forum.

SM - Secretary of Mercosur.

TPR - Permanent Court of Mercosur Review.

TAL - Administrative labor court of Mercosur.

CMPED - Mercosur Center for the promotion of the rule of law.

 

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