July 24, 2009
ASUNCION, July 24 (Xinhua) — The South American Common Market (Mercosur), a regional trading bloc, signed an agreement with South Korea on Friday to strengthen trade and economic ties.
Mercosur signed the agreement at its 37th summit that was held on July 23-24 in Asuncion, capital of Paraguay.
Under the agreement, Mercosur will strengthen economic and commercial ties with South Korea by creating a joint advisory group to promote trade and investments.
The two sides will exchange information and identify areas of common interests regarding commerce and investments, the agreement said.
Founded in 1991, Mercosur consists of Argentina, Brazil, Paraguay and Uruguay as its full members, while Venezuela, Chile, Bolivia, Peru, Ecuador and Colombia are its associate members.