Mercosur summit opens in Asuncion

What is Mercosur?
Mercosur started as the Argentina-Brazil Integration and Economics Cooperation Program in 1985. Under its new name, is was established in 1991 by the Treaty of Asuncion, which was later amended and updated by the 1994 Treaty of Ouro Preto. Founding members are  Argentina, Brazil, Paraguay, and Uruguay. 
 
Venezuela had signed a membership agreement in 2006 without  ratification of any trade agreements, and joined with full membership in 2012. Bolivia signed a protocol aimed at accession to full membership the same year.
 
Associate countries are Chile, Bolivia, Peru, Colombia, Ecuador, with Suriname and Guyana having signed the framework agreement. Observer countries are New Zealand, Japan, and Mexico.
Main goals
- Free transit of produced goods, services and production equipment among the member states; 
- Adoption of a common trade policy;
- Coordination of macroeconomic and regional policies of member states;
- Mercosur initially aims to establish free-trade zones, then a customs unification, and finally a common market. 
Experience
Mercosur members tried to raise their own influence inside the block, but bilateral conflicts between countries stopped the development of that process. In 2004, Mercosur signed an agreement with the Andean Community of Nations trade bloc (CAN). The idea was to avoid the influence of the North American economy. At the 4th Summit of the Americas in Argentina in 2005, over half of the current Mercosur member countries rejected the FTAA (Free Trade Area of the Americas) proposal. After the creation of the Washington led Trans-Pacific Partnership (TPP) with the inclusion of Peru, Chile and Mexico (Colombia is also interested), there is a greater chance for US influence on Mercosur.
 
In 2012, it was the fourth-largest trading bloc after the European Union. 
 
Last year's main win for Mercosur members was in merchandise trade. 
Perspectives
The US looking for an active role for the newly elected president of Argentina, Macri, during current session. His idea is turn Argentina back to the club of the international economic elite and promote a neoliberal agenda. Macri also promised to exclude Venezuela from the block, but in reality it is unlikely. Venezuelan President Nicolas Maduro has not confirmed his attendance with just one day before the summit.   
 
Paraguay and Uruguay maintain the position of pushing for intense cooperation with the industrialized world, especially the European Union.  
 
Brazil was the main beneficiary of Mercosur, and would like to increase its profits. Statistics show that Brazil's economy shrunk by more than 3.5 percent in 2015. Also the political situation is far from stable. So, new possibilities may be explored in order to balance the country internally.
 
It is also important how Mercosur will be coordinating activity with the other integration projects in Latin America - Unasur and CELAC.
Related links
Latin America and the Anglo-American “Booby-Left”
Russia expects to sign a treaty with CELAC this year
Mercosur
Latin America