Argentina's priority as chair of Mercosur which it will officially take over this week will be to advance negotiations with the European Union for a wide ranging trade agreement which will not include Venezuela, anticipated foreign minister Susana Malcorra .
The Inter-American Development Bank (IDB) has approved a US$40 million loan that will allow for bidding to begin for the Agua Negra tunnel, which will connect San Juan province in Argentina with that of Coquimbo in Chile. The tunnel is key to improving trade integration between the two countries and the rest of Mercosur through a new corridor that will connect the Atlantic and the Pacific from Porto Alegre, Brazil, west to Coquimbo, Chile.
During a commemorative assembly marking the fourth anniversary of the day the late Hugo Chavez picked him as his successor, Venezuelan President Nicolás Maduro called for a powerful civilian and military mobilization next December 17 to make a anti-coup test in view of the alleged threats from imperialism and national oligarchy.
Brazil and Argentina foreign ministers agreed on Thursday in Brasilia that Mercosur must open to the world and expand its trade horizons, but it will have to be done without Venezuela which has been currently ceased from the block. Jose Serra and Susana Malcorra coincided that Mercosur must speed the trade agreement with the European Union taking advantage of the fact US elected-president Donald Trump has pledged to limit such treaties.
The founding Mercosur countries Friday suspended Venezuela from full membership of the free-trade bloc in view of its failure to adjust its domestic regulations to economic agreements and human rights and immigration guidelines and principles that are mandatory to all the other members.
Nicolas Maduro's Venezuela has been suspended from the Mercosur regional trade bloc for failing to meet its membership requirements, a Brazilian government source revealed Thursday. And the official announcement is to be made Friday, which could not be corroborated in Buenos Aires' diplomatic circles.
President Michel Temer said that “Brazil doesn’t have solid institutions” and that is why, “small factoids” menace the country’s institutional framework. Temer made such statements during an event Monday evening with private businessmen.
Brazilian opposition party filed a petition for the impeachment of President Michel Temer, underlining the growing difficulties facing the centre-right leader as he tries to introduce austerity reforms.
The presidency of the Southern Common Market (Mercosur) in supposedly in the hands of Venezuela, who is said to have been suspended from full membership for failing to comply with the bloc's statutes.
Venezuelan President Nicolás Maduro said Tuesday that no one will be able to remove his country from the Southern Common Market (Mercosur), although the bloc's founders are considering a suspension for failure to fulfill commitments as an Associate State.