Mercosur niloy.f
-
Upload
niloy-saha -
Category
Economy & Finance
-
view
43 -
download
0
Transcript of Mercosur niloy.f
MERCOSUR
Introduction
MERCOSUR, the "Common Market of the South," is the largest trading bloc in South America
Created in 1991 as Argentina and Brazil sought to improve their diplomatic and economic relations, the bloc saw a fivefold increase in regional trade in the 1990s.
Its purpose is to promote free trade and the fluid movement of goods, people, and currency
History1991: Treaty of Asunción goes into force in 1991,
effectively mandating the creation of a common southern market (MERCOSUR) by December 31, 1994. Original signatories are Brazil, Argentina, Paraguay, and Uruguay
1994: Creation of Mercosur1995: Creation of customs union. MERCOSUR
and the European Union sign an agreement of trade association and cooperation in various areas
1999: Free trade agreement with two trading block EU and NAFTA
2004: Preferential trade agreement with India
(Awaited)Members…
Objective
The free transit of produced goods, services and factors among the member states Among other things, this includes the elimination of customs rights and lifting of nontariff restrictions on the transit of goods or any other measures with similar effects.
Fixing of a common external tariff (CET).Move member countries’ economies away
from import-substitution modelsDevelop institutional groups
•Its purpose is to promote free trade and the fluid movement of goods, people, and currency. The official languages are Guaraní, Portuguese, and Spanish.•Intra-Mercosur merchandise trade grew from $10 billion at the inception of the trade bloc in 1991, to $88 billion in 2010.•With a population of more than 270 million people, and a GDP of the full-member nations in excess of $3 trillion a year.
Functions.
FactsPopulation : 0.3 billion(2010) , 43% of
Latin America’s population Languages : Portuguese, Guaraní and
SpanishLand : 7,941,856 sq. miles, 59% of its total
landmass4th largest trading bloc in the world after
EU, NAFTA, ASEAN (2010)
Current News
Mercosur Signs Trade Deal with Palestinian Authority
This is the first trade deal between the Palestinian territories and a bloc of nations outside the Arab world