Economic policy in South America

The Southern Common Market (commonly known by abbreviations Mercosur in Spanish and Mercosul in Portuguese) is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994. Its full members are Argentina, Bolivia, Brazil, Paraguay, and Uruguay. Venezuela is a full member but has been suspended since 1 December 2016. Chile, Colombia, Ecuador, Guyana, Panama, Peru, and Suriname are associate countries.

intergovernmental union

Integration organization of the Andean region of South America, formed by Bolivia, Colombia, Ecuador and Peru