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Mercosur, organization formed in 1991 to realize a common market in South America from 1995. Exit originally, of a bilateral treaty signed by the Argentina and Brazil in 1986, it was widened in 1990 to form a free trade area. Mercosur, the name of which results from Mercado Comun del On (Common market of the South) aims to establish a common market by lowering tariffs between member countries (Argentina Brazil, Paraguay and Uruguay), or to favor exchanges with associated countries (Chile, Bolivia). It has also for objective to adopt regional commercial measures, to establish common capital, to succeed in giving to the region more influence in the commercial summits, and to look like precursor in the development of a free trade area in the Occidental hemisphere. Mercosur's seat is situated in Boenos Aires, in Argentina
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