Mercosur

Mercosur, South American regional economic organization. Mercosur grew out of earlier efforts to integrate the economies of Latin America through the Latin American Free Trade Association (1960) and its successor, the Latin American Integration Association (1980). In 1985 Argentina and Brazil signed the Declaration of Iguaçu, which created a bilateral commission to promote the integration of their economies; by the following year the two countries had negotiated several commercial agreements. The 1988 Treaty for Integration,...