12/6/2014
UNASUR Summit Opens a New Phase Towards South American Integration
GUAYAQUIL, Ecuador – The Union of South American Nations (UNASUR) has opened a new phase in the search for greater regional integration, an objective that many presidents of the bloc agree is the route to increasing well being in their countries.
At the event on Thursday, Ecuadorian President Rafael Correa spoke about the need to improve the institutional structure of the organization which he called “absolutely dysfunctional.”
He suggested moving away from the system of veto currently existing within the institution calling it “the best way of not advancing.”
The convergence of regional blocs, development of the Banco del Sur, (the regional monetary funding body) and more trade mechanisms, and a possible regional currency were some of the suggestions of the president as well as the establishment of common minimum wages and the setting up of a South American court of arbitration.
The region, which accounts for 6 percent of the world’s GDP, and has 500 million inhabitants spread over 17 million square kilometers (7 million square miles) could become the world’s fourth largest economy if its countries came together, the Ecuadorian president stressed.
According to Venezuelan President Nicolas Maduro, UNASUR is heading towards a new phase of consolidation with focus on the economy, development, defense and social equality in the region.
“In this world, where a new economic geography is emerging, we find ourselves in the fortunate position were South America, for the first time in 200 years, is walking its own path united in diversity,” he said.
Peruvian President Ollanta Humala said that the group needed to concentrate on concrete issues and be “an agile organization” in searching for solutions to situations confronting it.
“Integration implies productive diversification and the search for new markets means that we understand that within our diversity we are interconnected,” he explained.
Chilean President Michelle Bachelet hit an optimistic note saying that right now is “a very favorable time to continue advancing collectively in search of common solutions to the main political, economic, social and environmental challenges” facing the countries of the region.
In her opinion, “individual efforts that each of the countries are making are not enough” and integration and “jointly confronting these complex challenges” is essential.
The summit, which will continue in Quito on Friday, was also attended by the presidents of Argentina and Suriname, Cristina Fernandez and Disire Bouterse, respectively.
source
UNASUR Summit Opens a New Phase Towards South American Integration
GUAYAQUIL, Ecuador – The Union of South American Nations (UNASUR) has opened a new phase in the search for greater regional integration, an objective that many presidents of the bloc agree is the route to increasing well being in their countries.At the event on Thursday, Ecuadorian President Rafael Correa spoke about the need to improve the institutional structure of the organization which he called “absolutely dysfunctional.”
He suggested moving away from the system of veto currently existing within the institution calling it “the best way of not advancing.”
The convergence of regional blocs, development of the Banco del Sur, (the regional monetary funding body) and more trade mechanisms, and a possible regional currency were some of the suggestions of the president as well as the establishment of common minimum wages and the setting up of a South American court of arbitration.
The region, which accounts for 6 percent of the world’s GDP, and has 500 million inhabitants spread over 17 million square kilometers (7 million square miles) could become the world’s fourth largest economy if its countries came together, the Ecuadorian president stressed.
According to Venezuelan President Nicolas Maduro, UNASUR is heading towards a new phase of consolidation with focus on the economy, development, defense and social equality in the region.
“In this world, where a new economic geography is emerging, we find ourselves in the fortunate position were South America, for the first time in 200 years, is walking its own path united in diversity,” he said.
Peruvian President Ollanta Humala said that the group needed to concentrate on concrete issues and be “an agile organization” in searching for solutions to situations confronting it.
“Integration implies productive diversification and the search for new markets means that we understand that within our diversity we are interconnected,” he explained.
Chilean President Michelle Bachelet hit an optimistic note saying that right now is “a very favorable time to continue advancing collectively in search of common solutions to the main political, economic, social and environmental challenges” facing the countries of the region.
In her opinion, “individual efforts that each of the countries are making are not enough” and integration and “jointly confronting these complex challenges” is essential.
The summit, which will continue in Quito on Friday, was also attended by the presidents of Argentina and Suriname, Cristina Fernandez and Disire Bouterse, respectively.
source
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