UPSC CSE Prelims 1998
MERCOSUR (Mercado Común del Sur in Spanish, Mercosul in Portuguese) is a South American trade bloc established in 1991 by the Treaty of Asunción. Its founding members were Argentina, Brazil, Paraguay, and Uruguay. The primary objective of MERCOSUR is to promote free trade, the fluid movement of goods, services, capital, and people among its member states. Geographically, these countries are part of Latin America, making option 3 the correct choice.
Option 1 (Africa): Africa hosts various regional economic communities such as the Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA), and the Economic Community of West African States (ECOWAS). MERCOSUR is not associated with this continent.
Option 2 (Asia): Major regional blocs in Asia include the Association of Southeast Asian Nations (ASEAN), the South Asian Association for Regional Cooperation (SAARC), and the Shanghai Cooperation Organisation (SCO). MERCOSUR is not an Asian bloc.
Option 4 (South East Asia): This region is primarily covered by the Association of Southeast Asian Nations (ASEAN), which promotes economic, political, security, military, educational, and socio-cultural integration among its members. MERCOSUR operates in a different geographical region.