Mercosur
Structure, History, and Trade Architecture
Mercosur (Mercado Común del Sur — Southern Common Market) is a South American customs union established by the Treaty of Asunción in 1991, entering into full customs union status in January 1995.
- Founding members: Argentina, Brazil, Paraguay, Uruguay (Treaty of Asunción, March 26, 1991)
- Bolivia: Acceded as a full member in 2024 (after long associate status)
- Venezuela: Was a full member from 2012 but suspended indefinitely in 2016 for failing democratic and trade commitments
- Associate members: Chile, Colombia, Ecuador, Peru, Guyana, Suriname
- Common External Tariff (CET): All full members apply the same tariffs on imports from non-Mercosur countries — ranging from 0% to 35%
- GDP of Mercosur (combined): Approximately $3.7 trillion (PPP); population: approximately 300 million
- EU-Mercosur FTA: Agreed in principle in 2019 after 20 years of negotiations; ratification ongoing (faced environmental objections from EU member states)
- India-Mercosur PTA: Framework Agreement signed June 17, 2003; PTA signed January 25, 2004; entered into force June 1, 2009
● Tracked since February 21, 2026 · last seen June 08, 2026 · updates as the daily brief publishes
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