Popular Terms
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 Community's 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.

Use 'MERCOSUR' in a Sentence

When you are dealing with certain countries in South America you will have to make sure everything is ok with the Mercosur.
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I didn't want to go near any kind of mercosur trade because I wanted to keep everything we did within our own country.
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The MERCOSUR countries were engaging in open communication to promote and foster a climate of growth and sharing of resources.
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