Which of the following refers to a pact that originated in 1988 to establish a free trade area now including Argentina, Brazil, Paraguay, and Uruguay?
A)ASEAN
B)NAFTA
C)Mercosur
D)CARICOM
E)CAFTA

Question

Quizplus · Accepted Answer

Mercosurrefers to a pact among Argentina, Brazil, Paraguay, and Uruguay to establish a free trade area. Mercosur originated in 1988 as a free trade pact between Brazil and Argentina. The modest reductions in tariffs and quotas accompanying this pact reportedly helped bring about an 80 percent increase in trade between the two countries in the late 1980s. This success encouraged the expansion of the pact in March 1990 to include Paraguay and Uruguay. In 2006, the pact was further expanded when Venezuela joined Mercosur, although it may take years for Venezuela to become fully integrated into the pact.

Which of the Following Refers to a Pact That Originated