Mercosur, formally the Southern Common Market, is a South American trade bloc established by the Treaty of Asuncion, signed March 26, 1991, with its institutional structure finalized by the Protocol of Ouro Preto on December 16, 1994. Its full members are Argentina, Bolivia, Brazil, Paraguay and Uruguay, while Venezuela remains a full member suspended since December 1, 2016, and Chile, Colombia, Ecuador, Guyana, Panama, Peru and Suriname hold associate status. Headquartered in Montevideo, Uruguay, the bloc promotes free trade and the free movement of goods, people and currency among members and pursues deeper regional integration including legislative harmonization.
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