Mercosur
/ˈməːkəʊsuːə
/ /merkoˈsur/A customs union between Argentina, Brazil, Paraguay, and Uruguay, which came into effect in January 1995. Bolivia and Chile joined as associate members in 1996.
Origin
From elements of South American Spanish mercado común del cono sur 'Southern Cone Common Market' or mercado común del sur 'Southern Common Market'.