Mercosur is the acronym for Southern Common Market, a supranational entity made up of Argentina, Brazil, Paraguay, Uruguay and Venezuela (The latter country is in the process of incorporation). The Mercosur also has Bolivia, chili, Colombia, Ecuador and Peru as partner countries.

MercosurThis Union was established in 1991 from the signing of the Treaty of Asuncion, which allowed the free circulation of goods, services and productive factors among its members. The Mercosur It also established the adoption of a common trade policy, the coordination of sectoral and macroeconomic policies, and the establishment of a common external tariff.

The integration between these nations has led to other specific agreements within the framework of the Mercosur. All the members, plus Bolivia and chili, make up an area of ​​free residence with right to work for all its citizens. The only requirement is to prove the nationality and not have a criminal record. It should be noted, however, that this facility does not imply free movement, since immigration procedures are still mandatory.

In addition to all the above, it is necessary to establish other information of interest about this entity such as, for example, its logo. This is made up of four stars, belonging to the Southern Cross Constellation, which are located on a curved green line that symbolizes the horizon. Likewise, this symbol is completed with the name of Mercosur in capital letters and with a blue background.

The Mercosur has established agreements with other supranational organizations (such as the Andean Community) and with countries like Cuba, India, Israel and Mexico.

In order to carry out its actions and achieve the objectives and purposes that it has set, Mercosur has a perfectly structured and hierarchical organization chart, in which the following organizations stand out:
• Common Market Council (CMC), composed not only of a meeting of ministers but also of groups such as the High Level Mercosur Employment Growth Strategy (GANEMPLE).
• Common Market Group (GMC), whose structure includes both working subgroups and ad hoc groups or specialized meetings.
• Mercosur Trade Commission (CCM). It is made up of technical committees such as tariffs, customs affairs or trade rules and disciplines. All this without overlooking the defense of competition, public policy, foreign trade statistics or consumer protection.
• Parliament of Mercosur (PM).
• Economic-Social Consultative Forum (FCES).
• Mercosur Secretariat (SM).
• Mercosur Permanent Review Tribunal (TPR).
• Administrative-Labor Court of Mercosur (TAL).
• Mercosur Centers for the Promotion of the Rule of Law (CMPED).

Analysts argue that, beyond the status and philosophy of the Mercosur, its objectives have not been fully met. The liberation of the Commerce In the block, for example, it was never specified since each country can put together a list (which is updated every six months) with the products to which the common external tariff will not be applied.