Foreign Affairs

  With over two decades of existence, the Common Market of the South (MERCOSUR) is the most comprehensive initiative of regional integration implemented in Latin America. MERCOSUR members (Brazil, Argentina, Paraguay, and Uruguay - founding members, and Venezuela, which completed its accession process in the middle of 2012) encompasses approximately 72% of the territory of South America (12.8 million km2, equivalent to three times the area of the European Union); 70% of...