CARACAS, Thursday December 06, 2012 | Update

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

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

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).
Violence goes to school

A week into the beginning of the school year at the República del Ecuador school, in the San Martín neighborhood (downtown Caracas), and classes are taught only until 10 am. Thieves who broke into the school this summer caused major damage when they stole copper wiring and air-conditioning units, resulting in a power outage leaving classrooms in the dark(especially preschool classrooms, which are affected the most).

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