DEVELOPMENTAL ASPECTS OF SOUTH AMERICAN INTEGRATION - MERCOSUR

The.economic group MERCOSUR.is current. economic reality of. continental proportions. Its integration area includes less than 12 million square kilometers, or more than four times the size of Europe. It represents a potential market of 250 million people with a common GDP in excess of 3.08 billion dollars. At this moment, MERCOSUR is one of the most attractive places for investment in the world because there are many reasons for such success. MERCOSUR is the fourth economy and has the largest reserves of natural resources in the world. The main goal of the establishment of MERCOSUR is to promote free trade and free flow of goods, people and capital, aiming to become a common (single) market with a single currency, modeled on the European Union. Regional economic integration is a link in the chain of the growing interdependence of states and international actors of the world market scene, one of the important mechanisms through which is realized the increasingly globalize world economy. None of the existing regional economic integration, no matter how big, is not self-sufficient, but dependent from the rest of the world. That is why the existing regional economic integration are already in place or are underway to establish a special economic and other relations of cooperation, such as, for example, between MERCOSUR and the European Union or NAFTA - MERCOSUR.