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Mercosur: Economic Cooperation

1885 Words8 Pages

INRL- 360
Ozan Yılmaz
11020006031
MERCOSUR
Prof. Dr. Nazif MANDACI

MERCOSUR

The world is changing a lot and economy getting more important than past times. Economic cooperation is a tool of new world order. Also, regionalism is an idea that implementing of economic cooperation. Mercosur is a significant and successful example for regional economic cooperation. Mercosur is a regional manisfestation of the worldwide process of globalization. Also Mercosur involves social, political and cultural processes. Main idea of Mercosur is neo-liberalism and economic policy framework. Neo-liberalism is takes the economic making-decision process without realm of politics in the South of the America. Moreover, Mercosur, the Mercado Comun del sur (Spanish) …show more content…

They were later joined by associate members Chile in 1996, Bolivia in 1997, Peru in 2001 and finally Venezuela in 2004. Than after, Mexico was granted observer status in 2004. The final act is to create a common market in South America. Also Mercosur has signed free trade agreements with Bolivia and Chile. Also, there were a significant time between Mercosur and European Union had signed free trade agreement. It is the first time of this type signed free trade agreement in the world. All over than, the organization is include 240 Million people and has a mixed Gross Domestic Product (GDP) of approximate $4 trillion. Moreover, Mercosur have organizational institutions, memberships and vision.

Organizational Institutions

Decision- making bodies are also important for operation structure of Mercosur. Mercosur has six organizational institutions they are the Common Market Council (CMC), the Common Market Group (CMG), Mercosur Trade Commission (MTC), the Joint Parliamentary Commission (JPC), the Economic and …show more content…

Like other Latin American and developing countries Brazil promoted import substitution strategy. Mercosur is just the latest stage in Brazilian tariff reforms. Brasilia as a member of Mercosur has been engaged in 1994.The negations on the formation of a FTA of the Americas to be completed in 2005. Brazil and Argentina competed for influence over the smaller states in the Rio de la Plata Basin to ensure protection against each other and to establish economic and commercial ties to supply their industrial bases and economic supply chains. However, the economic and political weakening of Argentina and the consolidation and rise of Brazil over the past two decades has changed the balance of power, to the point that Brazil has strengthened its position relative to Argentina in each of the buffer states to a significant

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