Venezuela to debut in Mercosur
Upon Venezuela's full incorporation into the Common Market of the South, Caracas will reinforce its position in the region and appear as the world and economic "power" that President Hugo Chávez trumpeted during the presidential race where he was reelected for the third time
The Venezuelan leader's dream took six years to become true. Next Friday, Venezuela will no longer be an associated member and become a full member of the southern organization, which will be holding its next presidential summit in Brasilia, EFE cited.
Although Chávez's attendance to the summit has not been confirmed, Mercosur's upcoming summit will draw the line between the past and the future.
The summit also implies the return of Venezuela to a regional economic integration system after the country's final withdrawal from the Andean Community (CAN) in 2011 due to an impasse in 2006 with Peru and Colombia, which were negotiating bilateral Free Trade Agreements with the US.
Meanwhile, local entrepreneurs are worried about the fact that in four years the country shall adopt Mercosur's set of regulations and eliminate tariffs of other trade partners.
Venezuela's tariff adjustment to comply with Mercosur's regulations may begin by adopting the bloc's nomenclature, which may be completed by the end of the year. The adoption of the common external tariff (roughly 10%) would follow.
Upon Venezuela's full incorporation into Mercosur, the Venezuelan Government will reinforce its position in the region and appear as the world and economic "power" that president Hugo Chávez trumpeted during the run-up to the presidential election, where he resulted reelected for the third time.
Translated by Jhean Cabrera
A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.