Glossary:Mercosur
Mercosur, an abbrevation of the Spanish Mercado Común del Sur (Southern Common Market), was founded in 1991 by the Treaty of Asunción (amended and updated by the 1994 Treaty of Ouro Preto). Its main mission is to promote free trade and the free movement of goods, people, and currency in member countries:
| Argentina | (AR) | Brazil | (BR) |
| Paraguay | (PY) | Uruguay | (UY) |
Bolivia, Chile, Colombia, Ecuador and Peru have associate member status.