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Venezuela quits G3 trade bloc
Venezuela has officially
withdrawn from the G3 trade
group, a regional economic bloc
consisting of Venezuela,
Colombia and Mexico, the Foreign
Ministry said on Tuesday.
The Foreign Ministry said in a
statement that the G3 trade bloc
was bound by a "neo-liberal"
treaty, not an accord designed
to boost complementary trade, as
it had originally been devised.
Venezuela and other Latin
American nations seek agreements
based on solidarity and
collaborative work, but not on
competition, to address each
other's needs, it added.
On Sunday, Venezuelan President
Hugo Chavez said that his
country had decided to quit the
trade bloc with Colombia and
Mexico to formally become a
member of the Common Market of
the South (Mercosur).
The president said his country
decided to drop out of the trade
bloc to "safeguard the national
interests."
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