MERCOSUR

 

The Southern Common Market is a mechanism of economic and trade integration. This process of economic integration aims for the free movement of goods, services and factors of production between its members (Argentina, Bolivia; Brazil, Paraguay, Uruguay and Venezuela); the establishment of a common external tariff, and the development of a common policy towards third.

 

 

Colombia is part of the Southern Common Market as a Commonwealth, allowing it to participate in the different political bodies. In the commercial arena, Colombia signed the Economic Complementation Agreement (ACE 59) in 2004, with this Agreement, a free trade zone was formed through a trade liberalization program, which applies to products originating in and coming from the territories of the Signatory Parties (aside Colombia Ecuador and Venezuela, and other products Argentina, Brazil, Paraguay and Uruguay). This program is progressive and automatic, on current tariffs applicable to imports from third countries each Signatory Party bilateral concessions.. However, in practice Colombia is not part of the process of economic and trade integration, which States parties do participate.