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...

Economic features

Regarding the economic features, in the first place, MERCOSUR uses an integration strategy called " open regionalism " which is based on seeking to increase integration with neighboring countries, also aiming to eliminate or reduce barriers to integration with the rest of the world. (Zona Económica, n.d.) Regarding the economic features, in the first place, the total annual GDP of MERCOSUR in 2018 was 2,627,535M.$, being the Brazil GDP the greater than the rest of members with a 1,867,818M.$. Likewise, the total GDP per capita in the same year was 8,622$ (Country Economy, n.d.) At the beginning of MERCOSUR, in 1995, Brazil accounted for about 70% of the total GDP of Mercosur, because its economic performance, domestic policies, and negotiating position within the bloc, which had a major impact on the overall development of the integration process, methodology, and agenda. (Roett, R., 1999). Moreover, the followed table shows the real GDP of all South-America, in 2018 a...

OAS: Mercosur

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