Paraguayan President Santiago Peña proposed that Venezuela return to full membership in Mercosur during his address to the United Nations General Assembly on September 23, nearly a decade after the country’s suspension. The proposal follows a meeting in Caracas between Peña and Venezuelan interim president Delcy Rodríguez on September 19, which initiated a process to restore bilateral diplomatic and consular relations.
### Mercosur Suspension Context and Democratic Requirements
Venezuela remains officially registered within Mercosur as a suspended State Party, a status established in August 2017 under the Ushuaia Protocol on Democratic Commitment. According to Mercosur regulatory frameworks, the current suspension is set to lift only when member states verify the full re-establishment of democratic order in Venezuela.
In his UN address, Peña linked the path toward reintegration directly to political developments, stating that he expects a genuine and durable democratic transition supported by strong institutions, security, and economic recovery. While the Paraguayan initiative opens a significant political and economic debate, the proposal does not trigger an automatic re-instatement, nor is there an official calendar for Venezuela’s return.
### Trade Adaptation and Regional Customs Union Rules
If diplomatic and political discussions advance, Venezuela must bridge a substantial commercial gap accumulated during nearly nine years outside the bloc’s active decision-making organs. Venezuela left several rules unfulfilled prior to its suspension, particularly regarding the Common External Tariff (CET) adopted by Argentina, Brazil, Paraguay, and Uruguay.
Mercosur trade rules require members to adopt a vast body of regulations, including product nomenclature, trade agreements, and third-party trade negotiations. The adaptation scale mirrors the recent integration process of Bolivia, which received a four-year window to incorporate bloc regulations after depositing its ratification instrument in July 2024.
### Bilateral Trade Volumes and Regional Agricultural Impact
Economic data illustrates the current baseline for commercial interaction between the participating nations. According to UN Comtrade figures for 2025, Paraguay exported approximately US$6,79 million to the Venezuelan market, while Paraguayan imports from Venezuela totaled roughly US$38.000. Paraguayan exports included milled products valued at US$1,08 million, oilseeds, grains, and seeds totaling US$178,000, alongside pharmaceuticals and machinery.
A restored trade framework would reconnect a food-importing economy with some of the world’s primary agricultural exporters. Argentina, Brazil, Paraguay, Uruguay, and Bolivia maintain strong regional production lines in soybeans, corn, wheat, rice, beef, and dairy products, positioning the bloc to supply a recovering Venezuelan market as it seeks new international financing and investment.
### Diplomatic Reopening and International Financial Engagement
The diplomatic thaw materialized immediately prior to the UN General Assembly when Peña traveled to Caracas to meet with Rodríguez. Bilateral ties had been interrupted in 2025 following disputes stemming from the 2024 Venezuelan elections.
Alongside the regional trade discussions, the Venezuelan delegation led by Rodríguez traveled to New York to hold talks with the Inter-American Development Bank (IDB), the International Monetary Fund, and the World Bank concerning energy, debt, and mining sectors. According to Reuters reporting, the IDB is currently formulating a two-year engagement plan with the country.
While Mercosur has maintained Venezuela’s suspension of rights and obligations since 2017, the bloc has consistently recognized its formal status as a State Party. The current debate centers on defining the exact political, legal, and commercial conditions required to lift the long-standing suspension, marking the first time that a founding member has formally placed the issue before the international community.
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