Mercosur Trade and Membership Overview

The video provides an in-depth look at MERCOSUR, a significant economic bloc in South America. It covers the formation of MERCOSUR in 1991, its evolution from a free trade area to a customs union, and the economic integration among member countries. The video also discusses the challenges faced by MERCOSUR, including political issues and the suspension of Venezuela. It concludes with the current status of MERCOSUR and potential future developments, including the possible inclusion of Bolivia.

What is Mercosur primarily known as?

• A political alliance

• A military coalition

• An economic bloc

• A cultural union

In which year was the Mercosur treaty signed?

• 2000

• 1995

• 1991

• 1985

What is the primary goal of a free trade area?

• To form a military alliance

• To create a political union

• To reduce or eliminate tariffs

• To establish a common currency

Which two countries account for 75% of Mercosur's internal trade?

• Uruguay and Paraguay

• Brazil and Argentina

• Argentina and Paraguay

• Brazil and Uruguay

Why did Chile choose to associate with Mercosur rather than become a full member?

• To avoid military obligations

• To maintain certain commercial freedoms

• To focus on cultural exchanges

• To avoid political commitments

What was the main reason for Venezuela's delayed entry into Mercosur?

• Economic instability

• Geographical distance

• Lack of interest

• Opposition from Paraguay

What is Venezuela's primary export product?

• Petroleum

• Textiles

• Gold

• Coffee

Which country benefits the most from Venezuela's entry into Mercosur?

• Paraguay

• Uruguay

• Brazil

• Argentina

As of 2020, which country is suspended from Mercosur?

• Venezuela

• Argentina

• Brazil

• Uruguay

Which country is a potential future member of Mercosur?

• Colombia

• Peru

• Bolivia

• Chile