MERCOSUR: Objectives and Achievements
MERCOSUR is one of the most important examples of renewed
world-wide interest in regional trade agreements. It may be seen as a consolidation of
unilateral reforms undertaken in conjunction with major macroeconomic adjustments.
Author:
Sam Laird
World Trade Organization
Manuscript date: June 1997
Abstract Back to top
MERCOSUR is one of the most important examples of renewed world-wide interest in regional trade agreements. It may be seen as a consolidation of unilateral reforms undertaken in conjunction with major macroeconomic adjustments. The paper reviews the objectives of MERCOSUR and assesses its achievements. It concludes that considerable progress has been made to achieving a customs union and even beyond that towards a common (but not EU-style single) market, but there are a number of areas where progress is still to be made.
Keywords Back to top
Customs union, MERCOSUR, tariffs, non-tariff measures.
JEL codes: [F15]
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