Venezuela's exchange control in force despite Mercosur
Venezuelan President Hugo Chávez notified that Venezuela would continue having full freedom to set its monetary, exchange and tax policy upon its entry into the Common Market of the South (Mercosur).
After a meeting with Brazilian senior authorities, the Venezuelan leader underscored that the trade bloc is not a supra-national scheme set to impose domestic policy related issues.
"We have full freedom to keep exchange control, Cadivi (Foreign Exchange Administration Board) and mechanisms, such as Aladi (Latin American Integration Association) and many other mechanisms," he remarked.
Chávez informed that an assessment had been made with the Brazilian government of existent mechanism to trigger exports. He also disclosed the setup of a special fund for businessmen engaged in exports to Mercosur Member States, state-run news agency AVN quoted.
José Vicente Rangel clearly said: "We are not conducting negotiations threatened with a gun in the head." He warned behind closed doors in the midst of the social upheaval occurred during the oil strike in 2002 and 2003. Dissenting Timoteo Zambrano answered back that no other option was available: "The thing is that otherwise, you do not negotiate."