IBOV 205,333.25 ▲ 0.49% IPSA 10,974.12 ▲ 0.02% IPC MEX 67,663.29 ▲ 1.31% MERVAL 2,860,760 ▲ 0.06% COLCAP 2,574.78 ▼ 0.22% BVL PERÚ 60,210.69 ▲ 0.10% USD/BRL5.09▼ 0.20% USD/MXN18.46▲ 0.27% USD/CLP981.37▲ 0.02% USD/COP3,172▼ 0.74% USD/PEN3.43▼ 0.33% USD/ARS1,513— 0.00% USD/UYU40.13▲ 3.08% USD/PYG5,686▲ 3.07% USD/BOB11.61▲ 2.27% USD/DOP61.26▲ 0.43% USD/CRC448.47▲ 1.59% USD/GTQ7.65▲ 3.30% USD/HNL26.86▲ 0.34% USD/NIO36.62▼ 0.07% USD/VES877.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.73▲ 2.13% EUR/BRL5.72▲ 1.46% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 205,333.25 ▲ 0.49% IPSA 10,974.12 ▲ 0.02% IPC MEX 67,663.29 ▲ 1.31% MERVAL 2,860,760 ▲ 0.06% COLCAP 2,574.78 ▼ 0.22% BVL PERÚ 60,210.69 ▲ 0.10% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
since 2009
Friday, October 16, 2026

Lula takes over Mercosur presidency and discusses Venezuela’s reintegration

By · July 3, 2023 · 2 min read

Brazilian President Lula da Silva will temporarily assume the presidency of Mercosur, starting with his participation in the upcoming Mercosur Summit in Puerto Iguazú, Argentina.

During his six-month tenure, Lula aims to advocate for the reintegration of Venezuela into the bloc.

Venezuela’s participation in Mercosur was suspended in 2017 due to concerns over the “rupture of democratic order” under President Nicolás Maduro, who succeeded Hugo Chávez.

While Brazil and Argentina support Venezuela’s return, Paraguay and Uruguay remain cautious.

Nicoals Maduro and Luiz Lula da Silva. Foto: Ricardo Stuckert/PR
RT
Ask Rio Times
17 years of Latin America reporting, on demand.
Open the full Ask Rio Times →

Under Lula’s leadership, the Brazilian government intends to engage in dialogue with the Venezuelan government regarding their potential reintegration.

The LatAm Brief

One email, every weekday morning. What moved in Latin American markets, politics and expat life.

Yesterday’s subject line: “IMF sees Brazil as 8th-largest economy by 2027”

Free. We send a confirmation link first — nothing arrives until you click it. Unsubscribe with one click in any edition. If you stop opening us for 30 days we stop sending by ourselves, as we assume the interest is no longer there. See our privacy policy. We never share your email.

However, no specific discussions on Venezuela are scheduled at this time, and the focus will be on establishing general guidelines.

Despite Lula’s defense of Maduro’s actions and his assertion that the accusations against the Venezuelan leader are part of a narrative, there are legal obstacles to Venezuela’s reinstatement in Mercosur.

The Ushuaia Protocol, signed in 1998, obliges Mercosur members to uphold democratic principles. Maduro has held power since Hugo Chávez’s death 10 years ago, and there have been allegations of election fraud, persecution of political opponents, and human rights violations under his regime.

Lula has chosen to renew relations with Venezuela, hosting Maduro in Brazil with military honors and planning a second visit by the Venezuelan leader.

As the president of Mercosur, Lula aims not only to reintegrate Venezuela but also to advocate for the inclusion of new member countries, including Bolivia, whose accession protocol was signed in 2015 but has yet to be ratified by the Brazilian Congress.

In summary, Lula assumes the temporary presidency of Mercosur and intends to promote discussions on Venezuela’s reintegration into the bloc.

However, challenges exist due to the Ushuaia Protocol’s requirements and concerns over Venezuela’s democratic practices.

Lula also aims to explore the inclusion of additional countries, such as Bolivia, within Mercosur.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map →

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.