Mercosur

The "Common Market of the South," which includes Argentina, Brazil, Paraguay, and Uruguay in a regional trade pact that reduces tariffs on intrapact trade by up to 90%. Bloomberg Financial Dictionary

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Mercosur Mer‧co‧sur [ˈmɜːkəʊsjʊə ǁ ˈmɜːrkoʊsʊr] noun

a trade association consisting of Argentina, Brazil, Paraguay, and Uruguay, founded in 1991 to encourage trade, reduce import taxes etc between each country — see also Andean Pact

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   Mercado Común del Sur (Southern Common Market). A Latin American trade bloc that aims to promote free trade and co-operation between its members. Argentina, Brazil, Paraguay and Uruguay were founding members, Chile and Bolivia are associate members.

   ■ www.mercosur.org.uy ■

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Mercosur UK US /ˌmeəkəʊˈsʊə^r/ noun

► COMMERCE, GOVERNMENT a trade agreement between Argentina, Brazil, Paraguay, Uruguay, and Venezuela that makes it easier for member countries to trade with each other