The Mercosur nations--Argentina, Brazil, Uruguay and Paraguay--have agreed to a framework trade agreement that will establish a free trade area for cars, trucks, and parts by 2004. Trade ministers from the four nations signed the agreement at the recent summit of Mercosur presidents in Rio de Janeiro. The accord, which was signed by the Mercosur trade ministers, lays the groundwork for further talks on trade and investment in the region's automobile industry. "The objective of the transition period is to allow the progressive adaptation of four different national situations to the ...

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