Definition: Southern Common Market
General concept
The Southern Common Market (MERCOSUR - Mercado Común del Sur) was created by Argentina, Brazil, Paraguay and Uruguay in March 1991.
Since 1991, EU-MERCOSUR relationships consists of three elements: political dialogue, co-operation and trade issues.
Source:
Eurostat, "EU-27 trade with MERCOSUR countries 2006", Statistics in Focus, External Trade, 32/2008, Luxembourg, 2008
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