{"id":25384,"date":"2026-09-15T11:10:39","date_gmt":"2026-09-15T05:40:39","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=25384"},"modified":"2026-09-15T12:26:38","modified_gmt":"2026-09-15T06:56:38","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 MERCOSUR signed the First Additional Protocol to the India\u2013MERCOSUR Preferential Trade Agreement (PTA) to facilitate acceptance of electronic Certificates of Origin.\u00a0<\/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 South American regional economic organization.<\/span><\/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), <strong><a href=\"https:\/\/vajiramandravi.com\/current-affairs\/north-american-free-trade-agreement\/\" target=\"_blank\">North American Free Trade Agreement (NAFTA)<\/a><\/strong>, and ASEAN.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">It was <\/span><b>created in 1991<\/b><span style=\"font-weight: 400;\"> by <\/span><b>signing the 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<\/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<\/span><b> Uruguay<\/b><span style=\"font-weight: 400;\"> as its members.\u00a0<\/span><\/li>\n<li><b>Bolivia and Venezuela<\/b><span style=\"font-weight: 400;\"> joined it later. (Venezuela has been suspended since December 1, 2016).<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Mercosur also counts <\/span><b>Chile, Colombia, Ecuador, Guyana, Peru, and Suriname<\/b><span style=\"font-weight: 400;\"> as associate members.<\/span><\/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<\/ul>\n<\/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\u2019s highest decision-making body, 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 <\/span><b>presidency rotates every six months<\/b><span style=\"font-weight: 400;\"> among its full members.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><b>India and MERCOSUR<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The India-MERCOSUR PTA was <\/span><b>signed on 25 January 2004<\/b><span style=\"font-weight: 400;\"> and entered into force <\/span><b>on 1 June 2009<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Agreement provides preferential tariff concessions on 450 tariff lines by India and 452 tariff lines by the MERCOSUR side.<\/span><\/li>\n<\/ul>\n<p><b>Source:<\/b> <strong><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2310083&amp;reg=48&amp;lang=2\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MERCOSUR Group was created in 1991 by signing the Treaty of Asunci\u00f3n. Read more about MERCOSUR Grouping, Headquarter, Member Countries, Full Form.<\/p>\n","protected":false},"author":5,"featured_media":102890,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[3301],"class_list":["post-25384","post","type-post","status-publish","format-standard","has-post-thumbnail","category-upsc-prelims-current-affairs","tag-mercosur-group","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":7,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/25384\/revisions"}],"predecessor-version":[{"id":124609,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/25384\/revisions\/124609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/102890"}],"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}]}}