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Mercosur, the Common Market of South American States, is composed of four member countries (Argentina, Brazil, Paraguay and Uruguay). And it is considered one of the most significant economic blocs in the world .
Mercosur submitted two draft agreements, a framework agreement and a preferential agreement, with Egypt as a step towards the establishment of a free trade area between the two parties . The framework agreement was signed in Argentina on 7-7-2004 on the sidelines of the Mercosur Summit meetings and en route to the initial negotiations on the preferential agreement. |