11 January: President Fernando Collor de Mello signs Decree No. 1, also known as the Royalties Law, which regulates the payment of royalties to municipalities producing ore and electricity.[5][6]
26 March: Argentina, Brazil, Uruguay and Paraguay sign the Treaty of Asunción, establishing the South Common Market (Mercosur is its acronym in Spanish).[8]
Dependencies not included.Semi-autonomous territories are in italics.
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