South America Trade Agreements

The Commission may take decisions concerning the management and implementation of commercial decisions adopted within the framework of the common market of the South and, where appropriate, submit to the executive body proposals to regulate the territories submitted to it; In addition, it may propose new guidelines or amend existing Mercosur trade and customs guidelines. In this context, the Committee on Trade may propose an amendment to the import duty on certain products within the framework of the common external customs duties, including cases relating to the development of new Mercosur production activities. In order to better achieve its objectives, the Trade Commission may set up technical committees to direct and control the work it carries out. It may also adopt internal operating rules. The proposals and decisions of the Trade Commission shall be taken by consensus by the representatives designated by each Member State. All disputes arising from the application, interpretation or compliance with the acts adopted by the Trade Commission are referred to the executive body of Mercosur and should be settled by means of the guidelines of the dispute settlement system of the Common Market of the South. In 2004, Mercosur signed a cooperation agreement with the trade bloc of the Andean Community of Nations (CAN) and issued a memorandum of understanding for future negotiations for the integration of all of South America. [51] The prospect of greater political integration within the Organisation, as advocated by the European Union and supported by some, remains uncertain. [52] Bolivia, a member of the CAN and an associate member of Mercosur before the start of the UNASUR process, plays a crucial role in relations, says Marion Hörmann, as Bolivia is traditionally seen as a mediator between the Andean countries and the rest of South America. . .

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