The members of the Southern Common Market (Mercosur) are analyzing the possibility of Venezuela’s reincorporation into the trade bloc, taking into account the easing of sanctions against the country as well as changes in the political landscape.

In this regard, Brazil’s Vice President, Geraldo Alckmin, suggested that Venezuela’s suspension could be reviewed, “arguing that the nation is currently going through a different phase than in 2017, the year it was excluded from the organization.”

Furthermore, the group’s members are considering the restoration of relations between Venezuela, the IMF, and the World Bank.

In any case, “for Venezuela’s return to materialize, the block requires the absolute consensus of its founders. This implies a new technical evaluation of compliance with the political, customs, and human rights standards required by the organization.”

It is important to note that the analysis of Venezuela’s return to the trade bloc is taking place during a Mercosur restructuring. Furthermore, the measure has not only political implications, but also energy and commercial ones, since the return “would allow Caracas to normalize its export routes to the south and allow member countries to recover a partner with vast hydrocarbon reserves.”

M.Pino

Source: puntodecorte

(Reference image source: Isabela Kronemberger on Unsplash)

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