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Dispute Resolution in Mercosur

Dispute Resolution in Mercosur INTRODUCTION Launched on 26 March 1991 when the Presidents of Argentina, Brazil, Paraguay and Uruguay signed the Treaty of Asuncion, the final goal of Mercosur (or Mercosul in Portuguese) is revealed by the full name behind the acronym-Common Market of the Southern Cone.' To date, however, Mercosur has not advanced much beyond a very imperfect customs union. Although the vast majority of goods are now traded among the Member States duty-free, there are some significant exceptions that include both sugar and the entire automotive sector. There are also non-tariff barriers affecting intra- regional trade that have yet to be removed. In terms of goods imported from the outside world, there are still many important products not included in the common external tariff (CET) system. In addition, the deteriorating economic situation in Argentina throughout 2001 caused that country to unilaterally exempt numerous imports from the CET in March of 2001. Although later sanctioned by the other Mercosur countries when they granted the Argentines a temporary waiver, that measure also opened the door for some of these countries to pursue the same course of action as Argentina. Despite the recent setbacks suffered by regional economic integration in South America's Southern http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

Dispute Resolution in Mercosur

Journal of World Investment and Trade , Volume 3 (3): 14 – Jan 1, 2002

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190002X00058
Publisher site
See Article on Publisher Site

Abstract

INTRODUCTION Launched on 26 March 1991 when the Presidents of Argentina, Brazil, Paraguay and Uruguay signed the Treaty of Asuncion, the final goal of Mercosur (or Mercosul in Portuguese) is revealed by the full name behind the acronym-Common Market of the Southern Cone.' To date, however, Mercosur has not advanced much beyond a very imperfect customs union. Although the vast majority of goods are now traded among the Member States duty-free, there are some significant exceptions that include both sugar and the entire automotive sector. There are also non-tariff barriers affecting intra- regional trade that have yet to be removed. In terms of goods imported from the outside world, there are still many important products not included in the common external tariff (CET) system. In addition, the deteriorating economic situation in Argentina throughout 2001 caused that country to unilaterally exempt numerous imports from the CET in March of 2001. Although later sanctioned by the other Mercosur countries when they granted the Argentines a temporary waiver, that measure also opened the door for some of these countries to pursue the same course of action as Argentina. Despite the recent setbacks suffered by regional economic integration in South America's Southern

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2002

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