Politics, Business & Culture in the Americas

Venezuela to Formally Enter Mercosur

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The presidents of Argentina, Brazil and Uruguay will meet Venezuelan President Hugo Chávez in Brasilia today to formalize Venezuela’s full admission into Mercosur, the largest trade bloc in South America.

Venezuela’s entry was approved in 2006 and recognized in subsequent years by the parliaments of Argentina, Uruguay and Brazil, but failed to materialize due to opposition by the Paraguayan Congress. Paraguay’s suspension from Mercosur after Fernando Lugo’s impeachment on June 22, 2012 opened the door for Venezuela to formally join.

Paraguayan President Federico Franco—who was not permitted to attend the meeting—asserted that Chávez’s goal in joining was to give him an electoral push in the upcoming October elections. The visit to Brazil will be the Venezuelan president’s first official trip abroad since he was diagnosed with cancer in June 2011. Chávez, who turned 58 last Saturday, has lately appeared in more rallies and public events after declaring himself free of cancer earlier this month.

Chávez claims that Venezuela finally joining Mercosur is a sign of the United States’ failure in South America, as he claims that Paraguayan resistance is a product of American diplomacy. However, due to its tight exchange controls and high dependency on imports, Venezuela will benefit the least from participation in the regional bloc. The country will also have to meet a series of conditions, which might include resuming diplomatic relations with Israel that have been broken since 2009.

Tags: Argentina, Brazil, Federico Franco, Fernando Lugo, Hugo Chavez, Mercosur, Paraguay, United States, Uruguay, Venezuela
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