Treaty of Asunción for the Establishment of a Common Market

The Treaty of Asunción for the Establishment of a Common Market was signed on March 26, 1991 by the Argentine Republic, the Federative Republic of Brazil, the Republic of Paraguay and the Eastern Republic of Uruguay. According to the official MERCOSUR source, this treaty laid the foundations for the creation of the Southern Common Market (MERCOSUR). The framework is part of the founding legal body of the regional integration process and established the initial legal and institutional basis of the bloc.