Mercsour

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MERCOSUR Mercado Común Del Súr
Common Market of the South

A Study on the Origins, Organizational Structure, Latest Developments and the Contemporary Trade Patterns of MERCOSUR.

Indian Council of World Affairs–October 2012

MERCOSUR

Indian Council of World Affairs

Table of Contents
1. Mercosur: A Background ...................................................................................................................... 3 Raison d'être - A Historical Context .......................................................................................................... 3 Important Milestones ............................................................................................................................... 5 Institutional Structure ............................................................................................................................... 6 Members States ........................................................................................................................................ 7 Key Facts and Figures ................................................................................................................................ 7 Objectives ................................................................................................................................................. 7 Democracy in Mercosur and the Ushuaia Protocol .................................................................................. 8 Latest Developments ................................................................................................................................ 9 Mercosur and Venezuela ...................................................................................................................... 9 Suspension of Paraguay and Its Impact .............................................................................................. 10 Internal Tariff Liberalization.................................................................................................................... 11 Convergence towards Common External Tariff (CET) ............................................................................ 11 Intra-Mercosur Trade.............................................................................................................................. 12 Argentina-Brazil Trade Disputes ............................................................................................................. 12 Devaluation of the Brazilian Real ........................................................................................................ 12 Tariffs on Sugar Imports...................................................................................................................... 13 Quantitative Restrictions on Automobile Imports.............................................................................. 13 2. Structure of Merchandise Trade with China, EU and North America ................................................. 14 Mercosur - China ..................................................................................................................................... 14 Mercosur – European Union ................................................................................................................... 15 Mercosur- North America ....................................................................................................................... 15 3. Mercosur: Services Trade.................................................................................................................... 16 Brazil........................................................................................................................................................ 16 Argentina................................................................................................................................................. 16 Paraguay and Uruguay...
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