Definition of MERCOSUR:

  1. A customs union between Argentina, Brazil, Paraguay, Uruguay, and Venezuela (joined 2006 and suspended in 2016) which came into effect in January 1995. Bolivia and Chile joined as associate members in 1996, with Peru, Columbia, Ecuador, Suriname, and Guyana.

  2. MERcado COmún del SUR. Customs union of four Southern-cone countries (Argentina, Brazil, Paraguay, and Uruguay) established under the 1991 Treaty Of Asunción. Formed on the pattern of European Communitys Treaty Of Rome, it allows duty free inter-Mercosur trade and levies a common external-tariff (0 to 20 percent) on non-member countries. In 1996, Bolivia and Chile joined it as its associate members. Called Mercosul in Brazil.

How to use MERCOSUR in a sentence?

  1. When you are dealing with certain countries in South America you will have to make sure everything is ok with the Mercosur.
  2. The MERCOSUR countries were engaging in open communication to promote and foster a climate of growth and sharing of resources.
  3. I didnt want to go near any kind of mercosur trade because I wanted to keep everything we did within our own country.

Meaning of MERCOSUR & MERCOSUR Definition