Venezuela formally joins Mercosur trading bloc

South American leaders wave as they pose during the official photo shoot at the annual summit of the Mercosur trade bloc in Mendoza, Argentina, June 29, 2012.

Venezuela has become a full member of the Mercosur regional trading bloc following a six-year-long delay.

Venezuela’s President Hugo Chavez is now set to take part in a ceremony in Brasilia, which celebrates Caracas’ membership in the South American trade bloc.

The visit to Brasilia will be Chavez’s first official trip abroad in a year after his being diagnosed with cancer in June 2011 and his treatment process in Cuba.

Mercosur is an economic union and political agreement between Argentina, Brazil, Paraguay, and Uruguay founded in 1991. Its purpose is to promote free trade and the fluid movement of goods, people, and currency.  Continue reading

Advertisements