The Minister of External Relations, Luiz Alberto Figueiredo Machado, will attend the MERCOSUR Ministerial Meeting in Caracas on October 30, 2013. The Brazilian delegation will be composed of authorities from the Ministry of Finance and the Ministry of Development, Industry and Foreign Trade.
The Ministers will hold talks on deepening regional integration within the MERCOSUR framework in its social, political and economic dimension. They will also assess ways to promote better coordination with other regional groupings in Latin America, with special emphasis on Central America and the Caribbean, and will review the negotiations between MERCOSUR and the European Union.
MERCOSUR is the most comprehensive integration initiative ever undertaken in the Latin American region. From a commercial standpoint, the exchanges within the block have multiplied more than 12 times since the creation of MERCOSUR: from US$ 5.1 billion (1991) to US$ 61.2 billion (2012).
In the last decade, attention was also given to the social and citizenship aspects in the integration process, as well as to the mitigation of regional disparities, through the MERCOSUR Structural Convergence Fund (FOCEM).