"The first section of this excellent collection of articles places Mercosur in the larger context of new regional agreements and the transformations in multilateral trade arrangements associated with the Uruguay Round of GATT. Other sections address the specific nature and prospects of the...

With the signature of the Asuncion Treaty by Argentina, Brazil, Paraguay and Uruguay in July 1991, the four countries implemented an ambitious program to reduce tariffs and non-tariff barriers on their reciprocal trade; a common policy toward third countries was implemented in 1995. As MERCOSUR...