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Historic Antecedents of MERCOSUR and the Challenge of Liberalization

Historic Antecedents of Mercosur and the Challenge of Liberalization:

Shortly after the creation of the European Community, Latin America started its process in working toward regional integration. To remove trade barriers, and ensure the free circulation of goods in 1960, the treaty of Montevideo established the Latin American Free Trade Association (ALALC). Liberalization was starting to flourish; however it proved to be controversial and difficult. The end of 1978 needed a restructuring of the Association.

The market liberalization programs starting in the 1970’s (and continuing in the 1980’s in Mexico and 1990’s in Brazil and Argentina) adopted by a number of Latin American countries were meant to improve industrial efficiency which was hampered from developing due to the inward looking Import Substitution Strategies faced by many of the Latin American Governments. Trade reforms were implemented and many of these countries not only joined treaties of regional integrat...

Posted by: Cinthia De Ruiz

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