Latest News:  
Beijing   Thundershower/Cloudy    35 / 23 ℃  City Forecast

Home>>Foreign Affairs

Mercosur welcomes Venezuela, focuses on China


13:12, July 01, 2012

MENDOZA, Argentina, June 29 (Xinhua) -- The 43rd summit of Mercosur ended Friday in the western Argentine city of Mendoza after member nations agreed to accept Venezuela as a new member of the bloc and to promote cooperation with China in economic and trade.

The summit also suspended Paraguay's membership because the country's parliament impeached and ousted president Fernando Lugo following bloody clashes between police and landless farmers that left 17 people dead.

The current three member countries, Brazil, Argentina and Uruguay, announced that Venezuela will officially become the fifth full member of the region's largest trade organization at a special summit which will be held in Brazil's Rio de Janeiro on July 31.

Venezuela had been provisionally admitted into Mercosur in 2006,

but its entry had not been formalized because Paraguay's parliament refused to ratify it.

The suspension of Paraguay's membership paved the way for Venezuela to enter the bloc.

Argentina's President Cristina Fernandez said Venezuela's entry into the bloc could help promote regional economic integration and strengthen resistance against another international financial crisis.

Mercosur stressed the importance to promote relations with China and other Asian economies, as Chinese Ambassador to Argentina Yin Hengmin was invited to take part in the summit on behalf of the Chinese government. This is the first time that China was invited to attend a Mercosur summit.

In a joint statement, China and Mercosur vowed to continue to augment economic cooperation and trade so as to lift bilateral trade to 200 billion U.S. dollars in 2016.

On Paraguay, the summit decided to keep its membership on hold, but not to slap sanctions on the landlocked country so as to avoid possible damage to the Paraguayan people.

The bloc will consider restoring its membership after the country holds presidential elections next April.


Leave your comment0 comments

  1. Name


Selections for you

  1. Shenzhou-9 spacecraft successfully landing

  2. 13th China Pan-Asia Int'l Automobile Exhibition

  3. 《Madame Figaro》shooting set---We are all fan bingbing fans

  4. Magical alpaca "predicts" Spain,Italy entering Euro 2012 finals

Most Popular


  1. Money not a panacea for small business problems
  2. 'Global effort needed to fight corruption'
  3. New welfare stock accounts' impact limited
  4. Leftover men to be a big problem
  5. A symbol of affluence or a trap of luxury?
  6. Premier's visit sign of close ties with region
  7. Property necessary pill for economy
  8. Chinese banks must go global
  9. Putin's visit to Israel more symbolic than strategic
  10. Syria's new government faces escalation of tension

What's happening in China

Safe Baby Pregnancy Tips

  1. China codifies punishments for abusing prisoners
  2. 52.6 mln ride Beijing-Shanghai high-speed trains
  3. 6.6-magnitude earthquake hits Xinjiang
  4. China expected to expand OTC equity market
  5. Radio, film industries generate 46 bln dollars

China Features

  1. US-Japan-ROK drills aim to fix alliance weakness
  2. Why Chinese listed companies withdraw from US?
  3. Dreams can challenge any depth, height
  4. How can traditional Chinese medicine earn trust?
  5. Eurozone should move forward or it will fall over

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai