Venezuela is member of the [[United Nations|UN]], the [[Organization of American States|OAS]] and the OPEC. Recently the country has applied to the “Mercado Común del Sur/Southern Common Market” (MERCOSUR) for the admission to the group. MERCOSUR is a South American organisation which promotes free trade among [[Argentina]], Brazil, [[Uruguay]] and [[Paraguay]] in a similar way to the [[European Union|EU]] and the North American Free Trade Agreement (NAFTA). | Venezuela is member of the [[United Nations|UN]], the [[Organization of American States|OAS]] and the OPEC. Recently the country has applied to the “Mercado Común del Sur/Southern Common Market” (MERCOSUR) for the admission to the group. MERCOSUR is a South American organisation which promotes free trade among [[Argentina]], Brazil, [[Uruguay]] and [[Paraguay]] in a similar way to the [[European Union|EU]] and the North American Free Trade Agreement (NAFTA). |