ESPACIO PUBLICITARIO
CARACAS, Thursday December 06, 2012 | Update
 
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MERCOSUR SUMMIT

Mercosur will be energy and farming superpower upon Venezuela's entry

Venezuela's inclusion agreement was signed on July 4, 2006

EL UNIVERSAL
Thursday December 06, 2012  02:51 PM
Upon Venezuela's inclusion, the Common Market of the South (Mercosur) will become an energy and farming superpower for a total Gross Domestic Product (GDP) of USD 3.3 trillion and a population of more than 275 million.

The Mercosur Summit of Heads of State and Government slated for Friday in Brasilia consolidates the debut of Venezuela as Mercosur full member and turns the regional trade bloc into a territory of 12.7 million square kilometers pooling 70% of the population in South America and 83% of the GDP region, according to official data of the bloc, AFP quoted.

Mercosur encompasses very unequal economies; the largest one is Brazil, with a GDP of USD 2.4 trillion, followed by Argentina, USD 447.6 billion, and Venezuela, USD 315.8 billion.

Following Venezuela's admittance, Mercosur will have the largest oil reserves in the world, 20% out of total global reserves, or more than 310 billion barrels certified by the Organization of Petroleum Exporting Countries (OPEC).
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One crisis, two visions

A group of some 60 Venezuelan economists from across the country and from different generations and backgrounds, has met regularly in the past couple of years and now has brought forth a document explaining the reasons of the current emergency and outlining specific proposals on how to address the serious economic crisis the country has plunged into over the last three years.

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