economic bloc

Decision was announced by foreign ministers of Brazil, Argentina, Paraguay and Uruguay and is related to noncompliance with adherence to agreements deadlines

The Foreign Ministry confirmed on Friday (2) that Venezuela was suspended from Mercosur. 

Chancellors of the four founding countries of the bloc (Brazil, Argentina, Paraguay and Uruguay) gave the statement the representative of Venezuela on the block.

The decision is related to the expiration of the last deadline agreed in September to Caracas fulfill its membership obligations to Mercosur. From a total of 1,224 technical standards required, Venezuela incorporated only about 80 percent and 25 percent of the required treatment.

The main one is the Economic Complementation Agreement 18, which provides for the common external tariff and the elimination of intra-bloc tariff barriers program, which is considered the backbone of the trade agreement Mercosur, and the democracy clause.

In an interview during the participation of the National Day of Mobilization Against Aedes aegypti, the Minister José Serra said that the country had been warned about this possibility. "It had been announced [that Venezuela would be suspended from the bloc] is not fulfilled certain requirements and it was."

Mercosur was founded in 1991 by Brazil, Argentina, Paraguay and Uruguay.In 2012, Venezuela was accepted as a member of the bloc.

Source: Portal Brazil, with information from the Agency Brazil