{"id":25384,"date":"2025-10-17T11:10:39","date_gmt":"2025-10-17T05:40:39","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=25384"},"modified":"2025-10-17T15:02:05","modified_gmt":"2025-10-17T09:32:05","slug":"mercosur","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/mercosur\/","title":{"rendered":"MERCOSUR Group"},"content":{"rendered":"<h2><b>MERCOSUR Group Latest News<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Recently, India and Brazil agreed to significantly expand their existing trade agreement between India and the MERCOSUR bloc.<\/span><\/p>\n<h2><b>About MERCOSUR Group<\/b><\/h2>\n<ul>\n<li><span style=\"font-weight: 400;\">The <\/span><b>Southern Common Market<\/b><span style=\"font-weight: 400;\"> (MERCOSUR for its Spanish initials) is a <\/span><b>South American regional economic organization.<\/b><\/li>\n<li><span style=\"font-weight: 400;\">It is the <\/span><b>fourth largest integrated market<\/b><span style=\"font-weight: 400;\"> after the European Union (EU), North American Free Trade Agreement (NAFTA), and <a href=\"https:\/\/vajiramandravi.com\/current-affairs\/asean\/\" target=\"_blank\"><strong>ASEAN<\/strong><\/a>.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">It was created in 1991 by signing the <\/span><b>Treaty of Asunci\u00f3n.<\/b><\/li>\n<li><b>Objective:<\/b><span style=\"font-weight: 400;\"> Free movement of goods, services, capital and people and it became a customs union in January 1995.\u00a0<\/span><\/li>\n<li aria-level=\"1\"><b>Member countries:\u00a0<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">It originally comprised <\/span><b>Argentina, Brazil, Paraguay<\/b><span style=\"font-weight: 400;\">, and Uruguay as its members.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Bolivia and Venezuela joined it later. (Venezuela has been suspended since December 1, 2016).<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Mercosur also <\/span><b>counts Chile, Colombia, Ecuador, Guyana, Peru, and Suriname as associate members.<\/b><\/li>\n<\/ul>\n<\/li>\n<li><b>Headquarters:<\/b><span style=\"font-weight: 400;\"> Montevideo, Uruguay.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Its official working languages are <\/span><b>Spanish and Portuguese.<\/b><\/li>\n<li aria-level=\"1\"><b>Governance of MERCOSUR Group<\/b>\n<ul>\n<li><b>Common Market Council:<\/b><span style=\"font-weight: 400;\">\u00a0 It is the bloc&#8217;s highest <\/span><b>decision-making body<\/b><span style=\"font-weight: 400;\">, and provides a high-level forum for coordinating foreign and economic policy.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The group consists of the foreign and economic ministers of each member state, or their equivalent, and decisions are made by consensus.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The group\u2019s presidency <\/span><b>rotates every six months<\/b><span style=\"font-weight: 400;\"> among its full members.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>India and MERCOSUR:<\/b><span style=\"font-weight: 400;\"> India and MERCOSUR signed a <\/span><b>Preferential Trade Agreement (PTA) in 2004.<\/b><\/li>\n<\/ul>\n<p><b>Source: <\/b><strong><a href=\"https:\/\/ddnews.gov.in\/en\/india-brazil-agree-to-deepen-mercosur-india-trade-pact\/\" target=\"_blank\" rel=\"nofollow noopener\">DD News<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MERCOSUR Group  is a South American regional economic organization. Read more about MERCOSUR Grouping, Headquarter, Member Countries, Full Form, News.<\/p>\n","protected":false},"author":5,"featured_media":69378,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[3301],"class_list":{"0":"post-25384","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-mercosur-group","9":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/25384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=25384"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/25384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/69378"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=25384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=25384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=25384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}