Similarities and differences between MERCOSUR and other regions in Southern America

As already mentioned above, MERCOSUR is not the only region in Latin or South America whether politically or economically. Other regions may include LAFTA, UNASUR, LACM, CAFTA, CAN. We are going to critically analyze the similarities and differences between these regions.

References

Country Economy (n.d.) MERCOSUR - Southern Common Market. Retrieved from https://countryeconomy.com/countries/groups/mercosur

Wikipedia contributors. (2019, November 3). Andean Community. In Wikipedia, The Free Encyclopedia. Retrieved 17:19, November 12, 2019, from https://en.wikipedia.org/w/index.php?title=Andean_Community&oldid=924397745

MERCOSUR (2014) MERCOSUR in brief. Retrieved from https://www.mercosur.int/en/about-mercosur/mercosur-in-brief/

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Member states and associated states in MERCOSUR

The founding members of this region were Brazil, Paraguay, Uruguay, and Argentina. In December 2013 Venezuela was later recognized as a full member. However, due to human rights violations in Venezuela, it has been suspended of its participation since 2016. Bolivia began the process to become a state member in 2015. (MERCOSUR, 2015) Also, only those members of ALADI may apply for such “accession” to the Treaty of Asunción (i.e. as a full member), and for that purpose, they must submit a written request to the Common Market Council. (Fernández Reyes, J. A., 2013) Besides, there are other kinds of states called “associated states” which are those ALADI members that have MERCOSUR free trade agreements and they are being considered as associated members. They are allowed to participate in MERCOSUR meetings which are about topics of common interest. Likewise, the associated states may also be those countries with which MERCOSUR concludes agreements under Article 25 of the 1980...

What is MERCOSUR and its reasons for creation?

MERCOSUR is a regional integration process that has its origins in the signing of the Treaty of Asunción, on March 26, 1991. This agreement was signed by the Argentine Republic, the Federal Republic of Brazil, the Republic of Paraguay and the Eastern Republic of Uruguay, which are the main states part of the organization (MERCOSUR, 2015). Its foundational goals were to boost the global economic growth of the area, to improve resource allocation and to increase the welfare of citizens of member countries (UNED Documentos, 2005). Likewise, the Treaty of Asunción tried the implementation of automatic tariff reductions among these members countries, and promoted several measures to achieve mainly the trade liberalization (Roett, R., 1999); these measures promoted the free circulation of goods, people, services, and capital, just as the establishment of a common external tariff, the creation of a common commercial policy, the coordination of macroeconomic and sectoral policies between...

History of MERCOSUR

Mercosur was created in 1991 and is nowadays a consolidated regional organization. It has its origins in a previous organization: Asociación Latinoamericana de Libre Comercio or ALALC, in which eleven countries of South America were members. Its main goal was to create an area where the members (Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Paraguay, Peru, Uruguay, and Venezuela) could trade freely in an approximated period of twelve years. However, the economic instability in the region and the lack of institutions for the purpose of integration stalled the process (Machinandiarena, 2006). Due to this failure, members of ALALC met and negotiated the Montevideo treaty in 1980, which led to a second organization: Asociación Latinoamericana de Integración or ALADI. Its main goal was to integrate the markets of the different members to establish a common one. Nevertheless, the difference with the later tries in making this were that there were no strict d...

OAS: Mercosur

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