March 26, 1991 (, Xinwei February 11), the birth of the Common Market of the Southern Cone. ,

1991 3 26, the President of Argentina, Brazil, Uruguay, Paraguay in Asuncion, Paraguay signed the Asuncion Treaty, decided to establish the Common Market of the Southern Cone. The treaties aim is to jointly seek a solution to the economic difficulties, the path of common poverty. The treaty provisions phasing out of tariff and non-tariff barriers between member states to achieve the free circulation of goods, services and factors of production in the December 31, 1994; coordination between countries in regional and international economic conference on the coordination of macroeconomic policies and economic legislation to adopt a common trade policy. The supreme body of the Southern Cone Common Market Council is composed of the Foreign Ministers and Minister of Economy, the Chief Secretariat is located in Mongolia line-dimensional sub. southern
refers to Latin America, the Southern Cone, in addition to the 4 abroad include Chile, (lssdjt.cn) Peru, Ecuador, Bolivia and other countries. 8 countries form a cone extending from north to south, it is known as the Southern Cone region. The Southern Cone Common Market, including land accounted for 59% of the total area of ​​Latin America, 44% of the total number of population, gross domestic product of the four countries accounted for 51% of gross domestic product (GDP) in Latin America, which bears great economic potential.