VENEZUELAN BUSINESS COMMUNITY CONCERNED ABOUT FULL MERCOSUR INTEGRATION

Caracas, March 5- The potential full membership of Venezuela in Mercosur, before formalizing its departure from the Andean Community (CAN) has Venezuelan entrepreneurs and several parties linked to integration “awaiting and in uncertainty” since they are not in touch with government actions on the issue.

Several experts convened by Venezuela’s Centre for Dissemination of Economic Knowledge (Cedice) to discuss such processes and possible transition, considered “irresponsible that the government should advance on agreements with other countries on its own, behind Venezuela's back” said Delsa Solorzano, a member of Parlatino, the Latin American parliament.

Luis Alberto Russian, the CEO of the Chamber of Venezuelan-Colombian Economic Integration (Cavecol), commented that authorities from the administration of President Hugo Chavez need to report or consult with the private sector on negotiations, given the important implications for Venezuelan industry and commerce.

Venezuela’s National Council for Investment Promotion (Conapri) CEO Eduardo Porcarelli made “serious objections” to Venezuela's potential full membership in Mercosur.

Porcarelli said that by no means does he question integration into regional blocs, but he was worried that Venezuela and its production capacity could not catch up with the obligations imposed by Mercosur and its members’ strongly performing economies.

“We are concerned about the impact of opening our market to Mercosur countries on our local industries, particularly manufacturing”, underlined Porcarelli.

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