August 8, 2005
Chávez bolsters CAN-Mercosur integration

(El Universal) - "Venezuelan President and current chair of the Andean Community of Nations (CAN) Hugo Chávez launched initiatives to speed up integration with Mercosur during his visit to Uruguay.

Venezuela joined efforts with Cuba last April for an integration process -the Bolivarian Alternative of the Americas (ALBA)- as an alternative to the US-sponsored Free Trade Area of the Americas.

CAN members -including Bolivia, Colombia, Ecuador, Peru and Venezuela- have entered into cross trade agreements with Mercosur nations -Argentina, Brazil, Bolivia and Paraguay, as well as political commitments towards a South-American Community of Nations.

In addition, Chávez has proposed a South Bank fueled by South American nations international reserves in North banks, and a South University to reinforce the Latin American culture. Telesur, a multinational TV channel, started broadcasting already.

Venezuela -a Mercosur associate member as Peru, Chile and Bolivia- expects to be a full member. Also, it has proposed Petroamérica, an oil company grouping state oil company Petróleos de Venezuela (Pdvsa), Brazilian Petrobrás, and other South-American oil firms.

In Montevideo, Chávez met with his Uruguayan counterpart Tabaré Vázquez, who is also the chair of Mercosur, to discuss further integration and a number of bilateral issues".