Answer: South America
Notes: The Prime Minister recently discussed with Paraguay’s President expanding the Preferential Trade Agreement with MERCOSUR. MERCOSUR stands for the Southern Common Market in Spanish. It is a South American regional economic group formed in 1991 by the Treaty of Asunción. Its goal is to allow free movement of goods, services, capital, and people among members. Original members are Argentina, Brazil, Paraguay, and Uruguay. Bolivia and Venezuela joined later, but Venezuela has been suspended since 2016. Chile, Colombia, Ecuador, Guyana, Peru, and Suriname are associate members. MERCOSUR’s headquarters is in Montevideo, Uruguay.
