Venezuela Joins Mercosur

Mercosur is a full customs union encompassing Argentina, Brasil, Paraguay y Uruguay. On Tuesday, the 31st of July, Venezuela joined that group making it one of the largest economies in the world at an estimated $3.3 trillion dollars. Recently, a similar economic agreement made up of largely western countries (Mexico, Chile, Peru and Colombia) named…

Caracas Divides Mercosur

Mercosur is a full customs union encompassing Argentina, Brasil, Paraguay y Uruguay. Additionally, Venezuela, Ecuador, Chile, Bolivia, Colombia and Perú are associate members of the union, and as such, participate in the economic union, but not the unified customs system. While Venezuela signed into the union in 2006, their membership has been blocked ever since by…