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90-757: Konex Awards are granted by the Konex Foundation, created in 1980 in Argentina. The purpose of the Foundation is to promote, stimulate, support and participate in any possible manner in cultural, educational, intellectual, artistic, social, philanthropic, scientific or sports initiatives, works and enterprises, in their most relevant aspects. To achieve its goals, the Foundation instituted the Konex Awards to be granted to personalities and institutions standing out for his, her or its achievements in any of

180-550: A dispute that continued to the end of the year. On 21 November 2016, Paraguayan Foreign Minister Eladio Loizaga announced that Venezuela would be suspended in December 2016 after the nation was given a three-month period to reform its laws to abide to Mercosur requirements, with Mercosur noting that "rules governing trade, politics, democracy and human rights" needed to be overhauled in Venezuela. On 1 December 2016, Venezuela

270-612: A final, special ceremony in which the recipients are granted a distinctive symbol called Konex Trophy. The Konex Foundation further has the authority to grant the Konex Decoration to honor personalities who have brilliant careers around the world, for their contribution to universal culture. Thus far, two Konex Decorations have been granted: Yehudi Menuhin in 1994 and Mstislav Rostropovich in 2002. Mercosur The Southern Common Market , commonly known by Spanish abbreviation Mercosur , and Portuguese Mercosul ,

360-404: A general regime of origin, a system for resolving disputes and safeguard clauses. To ensure order and compliance with deadlines, two institutional bodies were created: The Treaty of Asunción also decided that the accession of a new member, in order to be effective, must be approved by legislative decree in all signatory countries. Otherwise, the membership process will be invalid. The founding of

450-507: A maximum of 64 acting parliamentary members, 16 per member state, and an equal number of alternates, appointed by the Congress to which they pertain, and with a term of office of at least two years. The meetings shall be conducted by a directors' board consisting of four presidents (one for each member state). The committee will ordinarily meet twice a year, and extraordinarily whenever summoned by any of its five presidents. Meetings are held in

540-619: A member. The Trade Commission shall exert every effort to apply common trade policy instruments such as: trade agreements with other countries or international entities; administrative/commercial product lists; final adaptation system for Mercosur customs unification; origin system; free-trade zone system, special customs areas and export processing zones; system to discourage unfair trade practices; elimination and harmonization of tariff restrictions; nonmember country safeguard systems; customs coordination and harmonization; consumer protection systems; and export incentive harmonization. Furthermore,

630-574: A nearly balanced merchandise trade with Mercosur in 2010, while the United States reaped a surplus of over US$ 14 billion; Mercosur, in turn, earned significant surpluses (over US$ 4 billion each in 2010) in its trade with Chile and Venezuela. The latter became a full member in 2012. Internal trade in the Mercosur block has grown from $ 4 billion in 1990 to $ 41 billion in 2022. The Asunción Treaty and Ouro Preto Protocol established

720-482: A single unitary state with a single set of economic rules, or among the members of a strong national federation . For example, the sovereign states of the United States do to some degree have different local economic regulations (e.g. licensing requirements for professionals, rules and pricing for utilities and insurance, consumer safety laws, environmental laws, minimum wage) and taxes, but are subordinate to

810-426: A single market can have a negative impact on some sectors of a national economy due to increased international competition. Enterprises that previously enjoyed national market protection and national subsidy (and could therefore continue in business despite falling short of international performance benchmarks) may struggle to survive against their more efficient peers, even for its traditional markets. Ultimately, if

900-438: A timetable for the creation of a free trade zone among the signatory states and the full members of Mercosur, with a gradual reduction in tariffs. In this way, these countries were successful in negotiations for the formation of a free trade zone with Mercosur, since an economic complementation agreement, with full compliance with its schedule, is the item required for the rise of a new associate. However, on 8 July 2004, Venezuela

990-602: A trade alliance aimed at boosting the regional economy, moving goods, people among themselves, workforce and capital. Initially a free trade zone was established, in which the signatory countries would not tax or restrict each other's imports. As of 1 January 1995, this area became a customs union , in which all signatories could charge the same quotas on imports from other countries (common external tariff). The following year, Bolivia and Chile acquired membership status. Other Latin American nations have expressed interest in joining

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1080-503: Is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994. Its full members are Argentina , Bolivia , Brazil , Paraguay and Uruguay . Venezuela is a full member but has been suspended since 1 December 2016. Associate countries are, Chile , Colombia , Ecuador , Guyana , Peru , and Suriname . Bolivia became a full member on 8 July 2024. Mercosur's origins are linked to

1170-451: Is a type of trade bloc in which most trade barriers have been removed (for goods ) with some common policies on product regulation, and freedom of movement of the factors of production ( capital and labour ) and of enterprise and services . The goal is that the movement of capital, labour, goods, and services between the members is as easy as within them. The physical (borders), technical (standards) and fiscal (taxes) barriers among

1260-512: Is also a smaller population of Asians , notably in Brazil. The white population forms a majority in Argentina and Uruguay and represents about 45 percent in Brazil. Mestizos form the majority population in Paraguay, making it distinct from its immediate neighbors. Almost all Mercosur nations have significant indigenous American populations, especially in Paraguay (Guaraní is a national language in

1350-438: Is commonly described as "frontier-free". However, several barriers remain such as differences in national tax systems, differences in parts of the services sector and different requirements for e-commerce. In addition separate national markets still exist for financial services , energy and transport . Laws concerning the recognition of professional qualifications also may not be fully harmonized. The Eurasian Economic Union ,

1440-483: Is composed of six sovereign member states: Argentina, Bolivia, Brazil, Paraguay, Uruguay and Venezuela (suspended since December 2016); six associated states: Suriname, Guyana, Colombia, Ecuador, Peru and Chile; plus two observer states: Mexico and New Zealand. Following the impeachment of President Fernando Lugo by the Paraguayan Senate, Paraguay was suspended from Mercosur. Shortly afterwards, Venezuela

1530-623: Is coordinated by the Ministries of Foreign Affairs of the member states. Its basic duties are to cause compliance with the Asuncion Treaty and to take resolutions required for implementation of the decisions made by the council. Furthermore, it can initiate practical measures for trade opening, coordination of macroeconomic policies, and negotiation of agreements with nonmember states and international agencies, participating when need be in resolution of controversies under Mercosur. It has

1620-454: Is diverse, comprising people of European, Africans and Indigenous descent. People of Afro-Latin American descent tend to be concentrated in Brazil and Uruguay, with a smaller, but historic Afro-Argentine community in Argentina and an emerging population in Chile, the latter largely of Haitian origin. There is a high percentage of mestizos that vary greatly in composition by place. There

1710-653: Is reserved exclusively for official representatives of the member states. The delegations of representatives from the private sector in the preparatory stage of the Work Subgroup activities will have a maximum of three representatives for each member state directly involved in any of the stages of the production, distribution or consumption process for the products that fall within the scope of the subgroup's activities. The Committee will have both an advisory and decision-making nature; with powers to submit proposals as well. It will be competent, inter alia, to: follow up on

1800-495: Is the last stage and ultimate goal of a single market. It requires the total free movement of goods and services, capital and people without regard to national boundaries. A common market allows for the free movement of capital and services but large amounts of trade barriers remain. It eliminates all quotas and tariffs  – duties on imported goods – from trade in goods within it. However non-tariff barriers to trade remain, such as differences between

1890-811: The Andes (whose highest mountain is Aconcagua at 6,962 m or 22,841 ft in Argentina); the largest rainforest, the Amazon Rainforest in Brazil; and much more if we take the associated members into account, such as the highest capital city, La Paz, Bolivia ; the highest commercially navigable lake in the world, Lake Titicaca in Peru; the driest non-polar place on earth, the Atacama Desert ; and, excluding research stations in Antarctica ,

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1980-641: The Central Bank . The members of the Common Market Group appointed by a given member state will constitute the National Section of the Common Market Group for that particular nation. Meetings: The Common Market Group will meet ordinarily at least once every quarter in the member states, in rotating alphabetical order. Special meetings may be freely called at any time, at any previously scheduled place. The meetings will be coordinated by

2070-686: The Gulf Cooperation Council , CARICOM and the European Union are current examples of single markets, although the GCC 's single market has been described as "malfunctioning" in 2014. The European Union is the only economic union whose objective is "completing the single market". A completed, unified market usually refers to the complete removal of barriers and integration of the remaining national markets. Complete economic integration can be seen within many countries, whether in

2160-650: The Mercosur Parliament was agreed upon at the December 2004 presidential summit. Up to 2010 it was planned to have 18 representatives from each country, regardless of population. Venezuela's history in Mercosur began on 16 December 2003, during a Mercosur summit held in Montevideo, when the Mercosur Economic Complementation Agreement with Colombia, Ecuador and Venezuela was signed. This agreement established

2250-503: The integration process and keep the respective Congresses informed; Take the necessary steps for the future instatement of a Mercosur Parliament ; Organize subcommittees to examine matters relating to the integration process; Submit its recommendations to the Common Market Council and Group as to how the integration process should be conducted and Southern Common Market formed; Make the adjustments necessary to harmonize

2340-548: The social crisis . Brazilian Foreign Minister Aloysio Nunes said that Venezuela will remain suspended until the country "re-establishes democracy." In January 2019, the opposition-majority National Assembly declared incumbent Nicolás Maduro 's 2018 reelection invalid, entering a presidential crisis . During a July 2019 summit in Santa Fe, Argentina , the bloc called for "free, fair and transparent presidential elections, as soon as possible" in Venezuela. The presidents of

2430-474: The Council in rotating alphabetical order, for six-month periods. Meetings: Council members shall meet whenever necessary, but at least once a year. The presidents of the member nations shall partake of the annual Common Market Council meeting whenever possible. Decision Making: Council decisions shall be made by consensus, with representation of all member states. The Group is the executive body of Mercosur, and

2520-495: The European Union (20%), China (14%), and the United States (11%) was of comparable importance. Exports from the bloc are highly diversified, and include a variety of agricultural, industrial, and energy goods. Merchandise trade with the rest of the world in 2010 resulted in a surplus for Mercosur of nearly US$ 7 billion; trade in services , however, was in deficit by over US$ 28 billion. The EU and China maintained

2610-518: The Head of the Delegation of the host member state. Decision Making: Common Market Group decisions shall be made by consensus, with the representation of all member states. The official Mercosur languages will be Portuguese and Spanish, and the official version of all work papers will be prepared in the language of the country hosting the meeting. The Administrative Office will keep documents and issue

2700-483: The Iguaçu Declaration, the basis for economic integration of the so-called Southern Cone . Both countries had just come out of a dictatorial period and were facing the need to redirect their economies to the outside and globalized world. Both countries had contracted a large external debt during the period of the military governments and did not enjoy credit abroad. There was a great need for investment in

2790-465: The Member States' rules on product safety, packaging requirements and national administrative procedures. These prevent manufacturers from marketing the same goods in all member states. The objective of a common market is most often economic convergence and the creation of an integrated single market. It is sometimes considered as the first stage of a single market. The European Economic Community

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2880-524: The Mercosur executive body, and should be resolved using the directives set forth in the Dispute Resolution System adopted under Southern Common Market. The rules on litigation jurisdiction over contractual matters will apply to disputes arising from civil or commercial international contracts between private-law legal entities or individuals provided that: They are domiciled or headquartered in different member states: At least one of

2970-493: The Mercosur official bulletin in both Portuguese and Spanish, and will also be charged with communicating the activities of the Common Market Group so as to allow for the maximum disclosure of decisions and the relevant documentation. The Socioeconomic Advisory Forum is consultative by nature, and represents the various socioeconomic sectors of the member nations. Directly subordinated to the Common Market Group,

3060-594: The Uruguayan and Argentine congresses approved the entry of the new member. The Brazilian congress did so only in December 2009. However, the Paraguayan congress did not approve it and, therefore, made it impossible for the Caribbean nation to fully join. Subsequently, on 29 June 2012, in response to Fernando Lugo 's summary dismissal of the presidency, the Mercosur presidents decreed the Paraguayan suspension until

3150-595: The Venezuelan parliament, displacing Juan Guaidó from his oppositional presidency, and thus making a rejoining of Venezuela to Mercosur more critical. In late April 2023, newly elected President of Brazil Luiz Inácio Lula da Silva pressed new agreements between Mercosur and the EU to stimulate economic development in South America . Previously, EU officials doubted such an agreement, and did not ratify it due to

3240-569: The Work Subgroups draw up the minutes of the decisions to submit for the consideration of the council, and conduct studies on specific Mercosur concerns. The work subgroups are the following: commercial matters; customs matters; technical standards; tax and monetary policies relating to trade; land transport; sea transport; industrial and technology policies; agricultural policy; energy policy; coordination of macroeconomic policies; and labor, employment and social security matters. The meetings of

3330-581: The Work subgroups will be held quarterly, alternating in every member state, in alphabetical order, or at the Common Market Group Administrative Office. Activities will be carried out by the Work Subgroups in two stages: preparatory and conclusive. In the preparatory stage, the members of the Work Subgroups may request the participation of representatives from the private sector of each member state. The decision-making stage

3420-468: The admission of Brazil and Mercosur to the competing Eurasian Economic Union (EAEU). Meanwhile, Venezuela that has been shut out of its Mercosur membership in 2016 due to accusations of undemocratic behavior, is attempting to approach the agreement again with a decree to reform the common nomenclature and to revamp its quality standards for export. In July 2023, a crisis broke out between Argentina and Paraguay , Bolivia , Uruguay and Brazil over

3510-457: The aforementioned fields. The Konex Awards were instituted in 1980 to be annually granted to sow for the future so that the most distinguished contemporary personalities and institutions in every field, which compose the cultural spectrum of the nation, will be an example to the nation's youths. Every year the Konex Foundation offers those awards in different activities in the nation, in cycles that repeat themselves every ten years. Initially and in

3600-517: The authority to organize, coordinate and supervise Work Subgroups and to call special meetings to deal with issues of interest. Composition: The Common Market Group shall be made up of four permanent members and four alternates from each member state, representing the following public agencies : (i) the Ministry of Foreign Affairs ; (ii) the Ministry of Economy , or the equivalent (from industry, foreign affairs and/or economic coordination); and (iii)

3690-538: The award, and they appoint their own president. The members of the Jury exclude themselves from being chosen for a Konex Award; a gesture that the Foundation emphasizes and thanks very specially. Each year the activity receiving a prize is classified by the Grand Jury into 20 disciplines. The Grand Jury selects the recipients for the following awards: The Grand Jury selects the five personalities or institutions that show

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3780-407: The basis for the institutional Mercosur structure, creating the Common Market Council and the Common Market Group, both of which function at the outset of the transition phase. As provided for in this Treaty, before establishing the common market the member nations must call a special meeting to determine the definitive institutional structure for the public agencies managing Mercosur, as well as define

3870-608: The bloc as the 5th largest economy in the world . The bloc places high on the human development index . Before the independence of the South American countries, most of their commercial and political ties were mediated by the Spanish Empire, which prohibited significant trade with Brazil. In the 19th century, the process of political emancipation in South America accentuated the various competing interests of

3960-435: The bloc's economic importance and opens up new business and investment opportunities. However, for others, the decision was seen as hasty, imposed by the governments of Brazil and Argentina and motivated purely by political interests. On 7 December 2012, Bolivian President Evo Morales signed a protocol aimed at accession to full membership in the bloc. Such a proposal requires review and legislative approval. On 7 July 2015,

4050-466: The common market should be completed by 31 December 1994 with the amendment of the Treaty of Ouro Preto . In 2001, celebrating the 10th anniversary of the bloc's creation, the Mercosur flag was hoisted for the first time at Mercosur's headquarters in Montevideo . The main implications of this free trade zone are: It was defined that during the transition period, the signatory countries would adopt

4140-627: The countries of single market. Consumers are benefited by the single market in the sense that the competitive environment brings them cheaper products, more efficient providers of products and also increased choice of products and their quality. What is more, businesses in competition will innovate to create new products; another benefit for consumers. Single market play significant role in increasing prosperity of nations involved in this area. For example, single market helps European Union to achieve annual growth of GDP with 2.2% p.a. between 1992 and 2006, rise in employment and job creation. Transition to

4230-843: The countries of the region. They often found themselves at war, such as the Cisplatine War , the independence of the Republic of Uruguay, the Uruguayan Great War , the Ragamuffin War , the dispute between unitaries and federalists in Argentina and the Paraguayan War . In 1941, in the middle of the Second World War , Brazil and Argentina for the first time tried to create a Customs Union between their economies. However, this did not happen due to

4320-467: The countries' diplomatic differences in relation to Axis policies, after the attack on Pearl Harbor . With the end of the war, the need for interaction between nations became imminent and, consequently, economic blocs formed. In Latin America, however, there was no union that obtained satisfactory results. In December 1985, Brazilian President José Sarney and Argentine President Raúl Alfonsín signed

4410-548: The countries, but no money. This common situation made them both realize the mutual need. Shortly after the signing of the Iguaçu Declaration in February 1986, Argentina declared its intention of a "preferential association" with Brazil. In a private home in Don Torcuato , there was a meeting to discuss the matter. The discussion, lasting two days, took place in an atmosphere of exchanging ideas and stating positions regarding

4500-621: The country along with Spanish, and almost all Paraguayans have Guaraní genetic ancestry), Argentina (especially in the Northwest and Southwest of The country), Brazil (in the Northern and Northwest Amazonian states of the nation, where Native American tribes have vast reservation lands). [REDACTED] Buenos Aires [REDACTED] Bogotá According to an article in the New York Times , Portuguese, Spanish and Guarani are

4590-564: The destruction of rainforest habitat in the Amazon region . At the same time, talks between Lula and Chinese President Xi Jinping had competed with the expected free trade agreement to the European trade zone . As talks progressed, other factors came into play, such as the recent visit by Russian foreign minister Sergey Lavrov to the Brazilian nation the same month; the latter is working on

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4680-604: The discussions for the constitution of a regional economic market for Latin America, which go back to the treaty that established the Latin American Free Trade Association in 1960, which was succeeded by the Latin American Integration Association in the 1980s. At the time, Argentina and Brazil made progress in the matter, signing the Iguaçu Declaration (1985), which established a bilateral commission, which

4770-428: The executive body regarding regulation of the areas under its authority; additionally, it can propose new guidelines or modify those in existence in Mercosur trade and customs matters. In this respect, the trade commission can propose a change in the import duty on specific items under common external tariffs , including cases referring to development of new Mercosur production activities. To better achieve its objectives,

4860-448: The federal government on any matter of interstate commerce the national government chooses to assert itself. Movement of people and goods among the states is unrestricted and without tariffs. A single market has many benefits: with full freedom of movement for all the factors of production between the member countries, the factors of production become more efficiently allocated, further increasing productivity. For both business within

4950-547: The four member countries signed a statement expressing concern "for the grave crisis that Venezuela is going through, which is seriously affecting the humanitarian situation and human rights." In 2020, however, Maduro's United Socialist Party of Venezuela and allied parties claimed to have captured 67 percent of seats in the National Assembly, but that election was also disputed by EU and U.S. officials. Nevertheless, since then Maduro has exercised majority control of

5040-464: The free navigability of the rivers in the Río de la Plata Basin . The territory of Mercosur consists of the combined territories of six of the 12 countries of South America and their population. Including the overseas territories of member states, Mercosur experiences most types of climate from Antarctic to tropical , rendering meteorological averages for Mercosur as a whole meaningless. The majority of

5130-537: The full members, Portuguese is the most spoken language, with over 214 million native speakers as of 2021, while Spanish accounts for 83 million speakers approximately. Even though language policy is the responsibility of member states, Mercosur institutions promote multilingualism among its citizens, and while Brazil has enforced Spanish as a foreign language to be taught at school, Argentina and Venezuela have done so with Portuguese. Intra-Mercosur merchandise trade (excluding Venezuela) grew from US$ 10 billion at

5220-470: The group. Mercosur's purpose is to promote free trade and the fluid movement of goods, people, and currency. Since its foundation, Mercosur's functions have been updated and amended many times; it currently confines itself to a customs union , in which there is free intra-zone trade and a common trade policy between member countries. In 2023, the Mercosur had generated a nominal gross domestic product (GDP) (PPP) of around 5.7 trillion US dollars, placing

5310-667: The heads of Mercosur having decided to accept Bolivia's request to become a full member country, Bolivian president Evo Morales signed the Brasilia protocol. However, full membership required all members states to ratify the procotol, which was completed in December 2023. That left only Bolivia's internal ratification process to be completed before it became a full member which came to fruition in July 2024. Bolivia will be required to adjust its law in accordance with Mercosur rules within four years from full membership. In August 2016,

5400-408: The inception of the trade bloc in 1991, to US$ 88 billion in 2010; Brazil and Argentina each accounted for 43% of this total. The trade balance within the bloc has historically been tilted toward Brazil, which recorded an intra-Mercosur balance of over US$ 5 billion in 2010. Trade within Mercosur amounted to only 16% of the four countries' total merchandise trade in 2010, however; trade with

5490-610: The laws of the different member states and submit them to the respective Congresses; Establish relationships with private entities in each of the member states, as well as international agencies and bureaus so as to obtain information and specialized assistance with matters of interest; Establish relationships targeting cooperation with Congresses of the nonmember nations and entities involved in regional integration schemes; Subscribe to cooperation and technical assistance accords with public and/or private entities whether domestic, supranational or international. The committee will be composed of

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5580-488: The market and consumers, a single market is a competitive environment, making the existence of monopolies more difficult. This means that inefficient companies will suffer a loss of market share and may have to close down. However, efficient firms can benefit from economies of scale , increased competitiveness and lower costs, as well as expecting profitability to increase as a result. This is true especially for companies selling goods and services easily distributed all around

5670-496: The member states are removed to the maximum extent possible. These barriers obstruct the freedom of movement of the four factors of production (goods, capital, services, workers). A common market is usually referred to as the first stage towards the creation of a single market. It usually is built upon a free trade area with no tariffs for goods and relatively free movement of capital, workers and services, but not so advanced in reduction of other trade barriers . A unified market

5760-516: The most relevant figure of the activity. The Honour Konex is granted to an outstanding deceased personality. The Grand Jury also has the power to grant Special Mentions to those who are considered worthy of the award but do not specifically fit within given disciplines. Since 2002 the Grand Jury has the authority to grant the Mercosur Konex to the most relevant living personalities of the countries linked to Mercosur . All awards are presented in

5850-537: The most remarkable accomplishments in each of the 20 chosen disciplines, awarding each of these 100 personalities or institutions a Merit Diploma in a public ceremony. Then the Grand Jury selects one figure out of the five awarded to receive the Platinum Konex. Among the 20 Platinum Konex winners, the Grand Jury selects the Diamond Konex recipient, the most outstanding personality or institution considered

5940-482: The next presidential election, in April 2013. A month later, the bloc presidents acknowledged their adhesion of Venezuela and several trade agreements have been signed. It was suggested that the decision could be reversed with the Paraguayan return by exercising its veto power, which was not the case. The decision was the subject of controversy. For some economists, Venezuela's acceptance as a full member of Mercosur expands

6030-619: The official languages of the Joint Parliamentary Committee. The Trade Commission will assist the Mercosur executive body, always striving to apply the instruments of common trade policy agreed to by the member states for operation of the customs unification. The commission should also follow up on the development of issues and matters related to common trade policies, the intra-Mercosur trade and trade with other countries. The commission will have five actual members and four alternates, with each member nation's indicating

6120-606: The official languages of the Mercosur organisation itself, which only recognizes Portuguese and Spanish. That Guarani is an official language there has been described as a common fallacy. Mercosur does not provide all, or even most, services in Guaraní. The official website is in Spanish, Portuguese and English, and almost all official summits are only held in Spanish and Portuguese. Important documents, such as legislation, are translated into Portuguese and Spanish. Currently, among

6210-901: The parties to the contract is domiciled or headquartered in any member state and, additionally, has made a choice of jurisdiction in favor of a court in one of the member states. In this case, there must be a reasonable connection between the jurisdiction chosen and the controversy. The scope of the application of the international jurisdiction guidelines over contractual matters excludes the following: legal relationships between bankrupt entities/individuals and their creditors and any other analogous proceedings (especially concordatas composition with creditors); matters under agreements involving family and succession law ; social security contracts; administrative contracts; employment contracts; consumer sales contracts; transport contracts; insurance policies; and rights in rem. Common market A single market , sometimes called common market or internal market ,

6300-480: The population lives in areas with a subtropical climate (Uruguay, Southern Paraguay, Northeastern and Center Argentina and Southern and Southeastern Brazil), or a tropical climate (Venezuela and Northeastern Brazil). The Mercosur member states are home to the world's highest uninterrupted waterfall , Angel Falls in Venezuela; the largest river by volume, the Amazon River in Brazil; the longest mountain range,

6390-459: The preparatory stage, members of the Work Subgroups may request the participation of representatives from the private sector of each member state. The decision-making stage is reserved exclusively for official representatives of the member states. The delegations of representatives from the private sector in the preparatory stage of the Work Subgroup activities will have a maximum of three representatives for each member state directly involved in any of

6480-556: The presidents of Brazil, Argentina, and Paraguay, while present in Rio de Janeiro for the Olympic Games , met to discuss suspending Venezuela from Mercosur. The three countries were in doubt about whether Venezuela was complying with the union's requirements for full membership, citing human rights violations among other issues. In fact, Venezuela was rejected from assuming the presidency of Mercosur by those three countries, prompting

6570-608: The program proposed the Gaucho as a currency for regional trade. For many, the idea of integration in South America seemed more like an abstraction, owing to various unsuccessful experiences in the past. However, this was perceived as different. On 6 July 1990, the President of Brazil, Fernando Collor , and the President of Argentina, Carlos Menem , signed the Buenos Aires Act aimed at total customs integration between

6660-470: The regional integration process, leading to the full perception by the signatories that a more comprehensive treaty was needed. Mercosur was finally established in 1991 by the Treaty of Asunción , based on the Buenos Aires Act, the Treaty of Asunción defined rules and conditions for the creation of a free trade zone among its four signatories. Likewise, it was decided that all measures for the construction of

6750-526: The specific functions of each agency and the decision-making process. The council is the highest-level agency of Mercosur with the authority to conduct its policy, and responsibility for compliance with the objects and time frames set forth in the Asuncion Treaty. The council is composed of the Ministers of Foreign Affairs and the Economy (or the equivalent) of all five countries. Member states preside over

6840-506: The stages of the production, distribution or consumption process for the products that fall within the scope of the subgroup's activities., Mercosur has a population of 284 million among its full member states. The region has several areas of sparse demographics such as tropical forests and deserts, but it is also highly urbanized with the presence of two alpha cities – São Paulo and Buenos Aires – and several beta cities such as Montevideo , Rio de Janeiro , Brasilia , etc. The population

6930-829: The status of the area's economy. After a few weeks, Brazil invited Argentina to a similar meeting, in Itaipava, also in a private residence. This signaled acceptance of the Argentine initiative and the formation of an agreement, with the objective of promoting the economic development of both countries and integrating them into the world. Out of this meeting came the Argentina-Brazil Integration and Economics Cooperation Program or PICE ( Portuguese : Programa de Integração e Cooperação Econômica Argentina-Brasil , Spanish : Programa de Integración y Cooperación Económica Argentina-Brasil ). Protocol Number 20 of

7020-429: The ten-year span from 1980 to 1989, such personalities received awards for their life-time accomplishments. As from 1990 to 1999 the accomplishments to receive awards represented the last ten years of activity. From the year 2000 through 2009 such cycle is repeated, and it will be repeated indefinitely. Every year a Grand Jury including 20 members is appointed. The members are specialists in the specific subjects receiving

7110-420: The territory of each member state on a successive and alternating basis. Decision Making: Meetings of the Joint Parliamentary Committee will only be valid when attended by parliamentary delegations from all member states. Decisions by the Joint Parliamentary Committee will be made by consensus vote of the majority of the members accredited by the respective Congresses of each member state. Portuguese and Spanish are

7200-454: The three official languages of the Mercosur, as they are the official languages of the five full members – Portuguese is the official language of Brazil, Spanish is the official language of all other full member countries, and Guarani is the co-official language of Paraguay and Argentina's province of Corrientes . Guarani is the most commonly spoken language in Paraguay. However, the official languages of its constituent states are not necessarily

7290-431: The trade commission can create technical committees targeting direction and supervision of the work it engages in. It can also adopt internal operating regulations. Proposals and decisions of the trade commission will be taken by a consensus of the representatives indicated by each member nation. Any disputes ensuing from the application, interpretation or compliance with the acts issued by the trade commission are referred to

7380-502: The trade commission should speak out regarding the issues raised by the member states regarding application and compliance with common offshore tariffs and other common trade policy instruments. The commission shall meet at least once a month, as well as whenever asked to by the Mercosur executive agency or by a member state. The commission can take decisions entailing administration and application of trade policies adopted under Southern Common Market, and whenever necessary submit proposals to

7470-485: The two countries. It was decided that all measures for the construction of the customs union should be completed by 31 December 1994. To ensure compliance with the deadlines, the Binational Working Group was created, the body whose responsibility was to define methods for creating the common market between the two nations. In September, the governments of Paraguay and Uruguay showed a strong interest in

7560-409: The work subgroups draw up the minutes of the decisions to submit for the consideration of the council, and study specific Mercosur concerns. The work subgroups are: Work subgroups are held quarterly, alternating in every member state, in alphabetical order, or at the Common Market Group Administrative Office. Activities are carried out by the Work Subgroups in two stages: preparatory and conclusive. In

7650-494: The world's southernmost permanently inhabited community, Puerto Toro, Chile . One Mercosur full member, Argentina, has a claim to Antarctica called Argentine Antarctica (part of the province of Tierra del Fuego ) which partially overlaps with the claim of Mercosur-associated state Chile, namely Chilean Antarctica . Brazil does not formally claim any part of Antarctic territory, but has a "zone of interest" called Brazilian Antarctica which overlaps Argentina's claim. Mercosur

7740-409: Was admitted as a full member on 31 July 2012. Venezuela had four years to fully adapt to the trade bloc regulations and failed to do so, with the nation being suspended from Mercosur on 1 December 2016. In July 2024, Panama president José Raúl Mulino said his country was formally applying to join Mercosur as an associate member. [REDACTED] Directly subordinated to the Common Market Group,

7830-405: Was elevated to associate member status, without even completing the schedule agreed with the Common Market Council. The following year, the bloc recognized it as an associated nation in the process of accession, which in practice meant that the state had a voice, but not a vote. The Caribbean country's Accession Protocol was signed in 2006 by all presidents of countries in the bloc. Subsequently,

7920-492: Was followed by a series of trade agreements the following year. The Integration, Cooperation and Development Treaty, signed between both countries in 1988, set the goal of establishing a common market , which other Latin American countries could join. Paraguay and Uruguay joined the process and the four countries became signatories to the Treaty of Asunción (1991), which established the Southern Common Market,

8010-449: Was suspended from Mercosur. On 5 August 2017, the foreign ministers of Argentina, Paraguay, Uruguay and Brazil affirmed that Venezuela's membership in Mercosur is suspended indefinitely in response to the "rupture of the democratic order" in that country following the 30 July 2017 Constituent Assembly elections . The bloc by-laws have no provision for expulsion. However, trade and migration policies stay without changes to avoid aggravating

8100-485: Was the first large-scale example of a common market. A single market allows for people, goods, services and capital to move around a union as freely as they do within a single country – instead of being obstructed by national borders and barriers as they were in the past. Citizens can study, live, shop, work and retire in any member state. Consumers enjoy a vast array of products from all member states and businesses have unrestricted access to more consumers. A single market

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