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MERCOSUR The Mercado Comun del Cono Sur (MERCOSUR) was established by the Treaty of Asuncion in March 1991 but effectively entered into force on 1 January 1995. It is a customs union between Argentina, Brazil, Paraguay and Uruguay, although Chile, Bolivia, and Peru have become associate members and negotiations are pending with Mexico, Venezuela and Colombia for further expansion. The purpose of MERCOSUR is to eliminate trade barriers between Members States and create a common market. www.mercosul.gov.br
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