35th Mercosur summit opens in Argentina to discuss global energy, food prices

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Source: CCTV.com | 07-02-2008 12:55

The 35th summit of the Common Market of the South or Mercosur has opened in Argentina's northern city of Tucoman. Global energy and food prices are high on the summit's agenda.

Presidents Hugo Chavez (L) of Venezuela, Cristina Fernandez  de Kirchner of Argentina and Luiz Inacio Lula da Silva (R)  of Brazil join hands after a private meeting at the end of  the 35th Mercosur summit in the northern Argentine province  of Tucuman, July 1, 2008.REUTERS/Presidency/Handout(ARGENTINA)

The presidents of five member states, Argentina, Brazil, Paraguay, Uruguay and Venezuela are attending the summit.

Argentine President Cristina Fernandez de Kirchner told the opening ceremony on Tuesday that speculation on agricultural markets increases global food prices. She says this creates severe challenges in developing countries.

Venezuelan President Hugo Chavez proposed creation of an emergency regional fund to promote agricultural development and strengthen food security.

He says Venezuela is willing to deposit one US dollar to the fund for each barrel of oil exported while the price is over 100 dollars per barrel.

Editor:Du Xiaodan