Southern Common MarketWikipedia short information
Mercosur, Mercosul or Ñemby Ñemuha (Spanish: Mercado Común del Sur, Portuguese: Mercado Comum do Sul, Guarani: Ñemby Ñemuha, Southern Common Market) is a sub-regional bloc. Its full members are Argentina, Brazil, Paraguay and Uruguay. Venezuela is a full member but has been suspended since December 1, 2016.
Headquarters of MERCOSUR, Montevideo, Uruguay, aerial view..
Its associate countries are Bolivia, Chile, Peru, Colombia, Ecuador and Suriname. Observer countries are New Zealand and Mexico.
Its purpose is to promote free trade and the fluid movement of goods, people, and currency. The official languages are Spanish, Portuguese, and Guarani. Since its foundation in 1991/4, Mercosur's functions have been updated, amended, and changed many times. It is now a full customs union and a trading bloc. Mercosur and the Andean Community of Nations are customs unions that are components of a continuing process of South American integration connected to the Union of South American Nations (USAN).