Venezuela Debuts As Full Mercosur Member

Venezuela made its debut appearance as a full Mercosur member Friday at the 30th summit of the trade bloc, held in Córdoba, Argentina. Regional energy integration was one of the much discussed topics, as was the proposed establishment of a regional development bank, the so-called Banco del Sur, which would be set up to fund infrastructure and development projects in the southern cone. Argentina’s president, Nestor Kirchner, urged Mercosur to consider opening up membership to Bolivia and Mexico, provoking criticism from some quarters that the regional trade bloc is becoming less about free trade and more about politics. The event was lent some added glamour by the visit of Cuba’s veteran leader, Fidel Castro, who kept his address to the delegates brief at three hours. He also took the opportunity to visit the childhood home of his former comrade in arms and iconic revolutionary, Ernesto“Che” Guevara.


Mercosur or Mercosul (Spanish: Mercado Común del Sur, Portuguese: Mercado Comum do Sul, English: Southern Common Market) is a customs union between Brazil, Argentina, Uruguay, Paraguay and Venezuela, founded in 1991 by the Treaty of Asunción, which was later amended and updated by the 1994 Treaty of Ouro Preto. Its purpose is to promote free trade and the fluid movement of goods, peoples, and currency.

Bolivia, Chile, Colombia, Ecuador and Peru have associate member status. On 30 December 2005 it was announced that Bolivia would be invited to join as an associate member. Venezuela signed its membership agreement on 17 June 2006, and became a full member on 4 July of the same year.

Official Languages: Spanish and Portuguese.

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