Which regional founding treaty signed on 26 March 1991 created the Mercosur common market?
Answer and explanation
Correct answer: B. The Treaty of Asunción, signed by Argentina, Brazil, Paraguay, and Uruguay
- Step 1: The treaty established a common external tariff, free trade of goods, and macroeconomic coordination. Step 2. It encouraged unprecedented economic and political cooperation between Argentina and Brazil. Answer: The Treaty of Asunción, signed by Argentina, Brazil, Paraguay, and Uruguay. Why not the others: It laid the foundation for South American economic integration.
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