Mercosur

Spanish acronym of �Common Market of the South (�Mercado Com�n del Sur�)�, Portuguese �Mercado Comum do Sul (Mercosul)� 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 Igua�u, which created a bilateral commission to promote the integration