International markets integration and social issues
Juan Coronado
BUSI 494-B01
Professor: Dr. Beverlin Hammett
International Markets Integration and Social Issues Essay (Venezuela)
The Following essay will give you a brief overview of two regional trade agreements NAFTA and MERCOSUR, by comparing and contrasting these two RTA’s the good and bad outcomes will be revealed, mostly economic factors, this investigation will determine how the RTA’s affect the country members.
MERCOSUR (Mercado Común del Sur) or Southern Common Market, it is a political and economic agreement which main purpose is to enforce the free movement of goods, services and factors of production between the country members by the elimination of customs and tariffs barriers and any other equivalent restrictions. MERCOSUR also establishes a common external tariff and the adoption of a common trade policy of the states and with countries associated, MERCOSUR focuses on the agricultural, industrial, communications and monetary factors, all these to ensure that countries in the parties preserve commitment between each other and to strengthen integration. MERCOSUR is integrated by 5 countries and 1 country to be ratified my member state legislatures (Bolivia), the five members are Brazil, Argentina, Paraguay, Uruguay and Venezuela. MERCOSUR also have associated members that benefit in some way from this Trade Agreement (Chile, Ecuador, Peru, Colombia, and Mexico). (Mercosur.int, 1992)
Venezuela has a population of 28.4 Million people according and is described as one of the richest countries in South America due to its large oil reserves which account for roughly 95% of export earnings (cia.gov, 2014); Venezuela has been part of MERCOSUR since 1999 but was formalized in 2012, since Hugo Rafael Chavez Frias became president, with his socialist and revolutionist ideas. Hugo Chavez remained as president till his death (2012) and was replaced by his very trusted Foreign Minister Nicolas Maduro; he was named the President of MERCOSUR in 2013.
BUSI 494-B01
Professor: Dr. Beverlin Hammett
International Markets Integration and Social Issues Essay (Venezuela)
The Following essay will give you a brief overview of two regional trade agreements NAFTA and MERCOSUR, by comparing and contrasting these two RTA’s the good and bad outcomes will be revealed, mostly economic factors, this investigation will determine how the RTA’s affect the country members.
MERCOSUR (Mercado Común del Sur) or Southern Common Market, it is a political and economic agreement which main purpose is to enforce the free movement of goods, services and factors of production between the country members by the elimination of customs and tariffs barriers and any other equivalent restrictions. MERCOSUR also establishes a common external tariff and the adoption of a common trade policy of the states and with countries associated, MERCOSUR focuses on the agricultural, industrial, communications and monetary factors, all these to ensure that countries in the parties preserve commitment between each other and to strengthen integration. MERCOSUR is integrated by 5 countries and 1 country to be ratified my member state legislatures (Bolivia), the five members are Brazil, Argentina, Paraguay, Uruguay and Venezuela. MERCOSUR also have associated members that benefit in some way from this Trade Agreement (Chile, Ecuador, Peru, Colombia, and Mexico). (Mercosur.int, 1992)
Venezuela has a population of 28.4 Million people according and is described as one of the richest countries in South America due to its large oil reserves which account for roughly 95% of export earnings (cia.gov, 2014); Venezuela has been part of MERCOSUR since 1999 but was formalized in 2012, since Hugo Rafael Chavez Frias became president, with his socialist and revolutionist ideas. Hugo Chavez remained as president till his death (2012) and was replaced by his very trusted Foreign Minister Nicolas Maduro; he was named the President of MERCOSUR in 2013.
References: The World FactBook (CIA) (2014) last updated. "South America: Venezuela" Retrieved 26 January 2014 from: https://www.cia.gov/library/publications/the-world-factbook/geos/ve.html MERCOSUR (Official Website) "Mercosur.Int" Retrieved 26 January 2014 from: http://www.mercosur.int/home.jsp?contentid=7&seccion=1 Reuters (2007) STABROEK NEWS. "Venezuelans Line up for milk in latest shortage" Retrieved 26 January2014 from: http://news.google.com/newspapers?nid=2492&dat=20071024&id=F0ZaAAAAIBAJ&sjid=oSYMAAAAIBAJ&pg=1226,609576 King, Kiki. (2014) "24,000 murders last year confirm Venezuela as one of the world 's most dangerous countries". The Observer Retrieved 26 January 2014, from: http://www.theguardian.com/world/2014/jan/12/violent-crime-makes-venezuela-dangerous