54533
Venezuela’s Mercosur Membership in Peril
Venezuela’s Mercosur Membership in Peril

Venezuela’s Mercosur Membership in Peril

Venezuela’s Mercosur Membership in Peril

Venezuela is expected to be suspended from Mercosur for failing to meet economic, human rights and immigration accords governing the group. The South American country is under severe political and economic pressure.
In the latest move against the socialist government in Venezuela, members of the regional trade bloc Mercosur are expected to announce that bloc membership for the oil-rich country is to be suspended, perhaps as soon as Friday, DW reported. 
Argentina, Paraguay, Uruguay and Brazil are the other full members of the regional bloc while Bolivia, Chile, Peru, Colombia, Ecuador and Suriname are associate countries. New Zealand and Mexico are observers. The bloc promotes free transit of produced goods, a common trade and external tariff policy, but there are also reciprocal rights and obligations between member states.
“Venezuela has not adopted all the membership rules and treaties it had promised,” one of three, unidentified Brazilian officials told Reuters. “Everything indicates that Venezuela will be suspended starting in December.” The next meeting of Mercosur foreign ministers is on December 14.
A suspension would not carry any sanctions against Venezuela but would sideline its government from bloc meetings and trade negotiations, the Brazilian officials said.
Businesses in Brazil have complained that Venezuela’s membership since 2012 has caused the delay of key trade and regulatory decisions.
The government of President Nicolas Maduro has said it will not leave Mercosur. It condemned what it described as a campaign by right-leaning Brazil, Argentina and Paraguay to expel it from the group.
Venezuelan Foreign Minister Delcy Rodriguez said on Thursday that Venezuela had called on member countries to activate a mechanism for “resolution of disputes.”
In August, the presidents of Brazil, Argentina and Paraguay met to discuss suspending Venezuela from Mercosur—with doubts expressed that the Maduro government was complying with the union’s requirements for full membership, especially in relation to human rights.
Last month, Uruguayan President Tabare Vazquez warned that Venezuela would lose its right to vote in Mercosur from December if it did not ratify the bloc’s regional agreements. “The four founding members of Mercosur agreed a couple of months ago to give Venezuela until December 2 for it to incorporate the agreements it signed in Mercosur.”

Short URL : https://goo.gl/S0rsPh
  1. https://goo.gl/8cnbp0
  • https://goo.gl/bQlWRB
  • https://goo.gl/ceuceh
  • https://goo.gl/pkqmTJ
  • https://goo.gl/mfgJAD

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus