MERCOSUR

The Southern Common Market (MERCOSUR) is a South American trade bloc founded in 1991. It promotes free trade and fluid movement of goods among member states.

MERCOSUR-EU Trade Agreement Prospects

  • Negotiations face delays over European agricultural protectionism and strict environmental standards for imports.
  • The deal aims to create a market of 780 million people, boosting global GDP.
  • Concerns persist regarding the deindustrialisation of South American manufacturing sectors under European competition.

Internal flexibility for bilateral deals

  • Current rules require members to negotiate external trade agreements as a unified bloc.
  • Uruguay has pushed for flexibility to pursue independent bilateral deals with China and Turkey.
  • This tension ....
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