Mercosur PPT - Beginnings 1986- Bilateral program between...

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Beginnings 1986- Bilateral program between Argentina and Brazil Goal: industrial integration 50%of Latin America's land mass, 43% of population, 33% of regional trade – 1991- Treaty of Asunción included Uruguay and Paraguay Tariff reduction, common external tariffs, and harmonization of macroeconomic policies Chile, Bolivia, Colombia, Ecuador and Peru associate members (not necessarily abide by CET) Venezuela acceded full membership in 2006
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Currently Second largest trade agreement in the Western Hemisphere (behind NAFTA) Now a full customs union Fourth among world economic blocs $767 billion in combined GDP 230 million inhabitants in member states
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Ties with Europe By 2005, EU and Mercosur's two-way trade totaled 46 billion euro EU is the top market partner and active in infrastructure development 7 out of the ten largest private companies in Brazil are European-owned Possibility of future free trade market agreement between the two regions
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Administration: 6 Tiers 1) Council- political leadership group composed
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This note was uploaded on 01/24/2011 for the course ECON 361 taught by Professor Meyer during the Fall '10 term at George Mason.

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Mercosur PPT - Beginnings 1986- Bilateral program between...

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