Deputies approve the entry of Venezuela into Mercosur
"A milestone in the process of integration of South America"
The House Floor approved, on Wednesday, 18th December, the Draft Legislative Decree No.387/07 containing the Protocol of the Accession of Venezuela to Mercosur. The protocol was signed in Caracas on July 4th, 2006 by Venezuela and the member states of the bloc. The matter will be now discussed by the Senate.
According to the Brazilian government, the entry of Venezuela in Mercosur is "a milestone in the process of integration of South America." Once the process is completed, the bloc will have a population of over 250 million people, an area of 12.7 million km2, a Gross Domestic Product (GDP) of more than a trillion dollars and an annual trade volume exceeding US$300 billion. This trade involves mainly the export of food, energy, and manufactured goods.
Other countries
The Protocol of Accession of Venezuela has already been approved by Uruguay and by Venezuela itself. It also was approved recently by the Argentinean Congress. In Paraguay, it is still being discussed by the Executive.
To participate effectively in Mercosur, Venezuela must, after being accepted by all members, adopt the standards of the bloc: the Mercosur common terminology (Nomenclatura Comum do Mercosul - NCM) and common external tariffs on products sold. It must also sign an agreement on freedom of trade and accept Mercosur’s conditions for negotiations with non-member countries.
Reporting - Eduardo Piovesan
Edition - João Pitella Junior/Rejane Xavier