Mercosur to hold ministerial meeting to mark change of bloc's presidency

A sub-regional trade bloc in Latin America has decided to replace a summit meeting with a ministerial-level one next month to mark the transition of its presidency from Uruguay to Venezuela, Uruguayan Foreign Minister Rodolfo Nin Novoa said on Monday.

The Southern Common Market (Mercosur) will not have a gathering of top leaders from member states to mark the occasion as it did in the past, Nin Novoa told the press in response to inquiries about the arrangement for next month's Mercosur presidency handover ceremony.

The summit was scrapped due to the volatile situation in Venezuela, which is roiled by economic and political crises, the minister said.

Instead, foreign ministers from member countries will take part in the event, he added.

Mercosur, which was founded in 1991, now groups Brazil, Argentina, Paraguay, Uruguay and Venezuela.

Brazilian media reported earlier that Brazilian Interim President Michel Temer would not attend an upcoming ceremony to mark Venezuela taking over the Mercosur presidency, nor would his Foreign Minister Jose Serra.

Such reports indicate the nonchalance on the Brazilian side might be a sign of deepening ideological rift between the two countries.

"Mercosur has its complexities, but they can be resolved with more Mercosur, not less," said Argentine Foreign Minister Susuana Malcorra, who attended a trade forum with Nin Novoa before his revelation about the Mercosur summit.

The two ministers, aside from jointly making a call for further opening of trade in the bloc, urged countries to set aside their ideological differences to pursue common development. Endi