Mercosur - Changing Course?

<< Previous

Excerpts

Efforts to integrate the Latin American economies had been made on and off since the beginning of the 1960s. The Latin American Free Trade Association (ALALC) was created, in 1960, by Argentina, Brazil, Chile, Mexico, Paraguay, Peru and Uruguay (later Bolivia, Colombia, Ecuador and Venezuela joined as well). It had the ambitious aim of creating a common market in Latin America. In 1980, ALALC was replaced by and reorganized into the Latin American Integration Association (ALADI) with the objective of creating favorable conditions for the establishment of a common market...

or or PayPal (9 USD)

As Brazil and Argentina were progressing on the path toward a common market with closer economic and political cooperation, Uruguay and Paraguay, their smaller neighbors also joined in. Thus, with the signing of the Treaty of Asuncion, in Paraguay, on March 26, 1991, Mercosur was formed. .........

Although Mercosur achieved remarkable progress in the first four years, there were several aspects of the FTA that were left unfinished. Several rules made at Mercosur to move towards integration remained on paper and were not incorporated into the national laws of the member states. After 1995, Brazil and Argentina in particular, showed increasing reluctance to work towards dismantling the remaining tariff and other non-tariff barriers and harmonizing macro economic policies, and instead resorted to rhetoric regarding the virtues of strengthening Mercosur. Integration was no longer a driving force among the major partners as a priority in their economic agenda. As a result the process of regional integration took a back seat..........

Excerpts Contd...... - Next Page>>