Chavez: joining trade bloc a boon for Venezuela

July 31, 2012 • Business

Brazil’s Foreign Minister Antonio de Aguiar Patriota, left, Uruguay’s Foreign Minister Luis Almagro, second from left, Argentina’s Foreign Minister Hector Timerman, second from right, and Venezuela’s Foreign Minister Nicolas Maduro pose for pictures during a meeting ahead a Southern Common Market (MERCOSUR) Extraordinary Summit in Brasilia, Brazil, Monday, July 30, 2012. The Summit is scheduled for Tuesday. (AP Photo/Eraldo Peres)

CARACAS, Venezuela (AP) — Joining the South American trade bloc Mercosur will be a boon for Venezuela and should help the country’s businesses boost international sales, President Hugo Chavez said Monday as he traveled to Brazil for a meeting where Venezuela will formally become a member.

Chavez urged Venezuelan business leaders, some of whom are concerned about reducing tariffs, to support the initiative as he left Caracas for the meeting in Brasilia.

He said joining Mercosur will allow Venezuela “to have a much wider market to climb the scale” in its exports and also diversify its largely oil-driven economy. At the same time, Chavez said the bloc’s other members, including Brazil, Argentina, Uruguay and Paraguay, will also have expanded Login to read more

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