[News Terms] 'Union of South American Nations' to Be Re-discussed at South American Summit

The Union of South American Nations (UNASUR) is a regional integration organization established in May 2008 by 12 countries: Brazil, Argentina, Bolivia, Chile, Colombia, Ecuador, Guyana, Paraguay, Suriname, Uruguay, Venezuela, and Peru.

Former Venezuelan President Hugo Chavez and Brazilian President Luiz In?cio Lula da Silva led the founding efforts, modeling it after the European Union (EU). At one point, it was called the "South American version of the European Union," with all 12 South American countries as members. However, in 2018, eight countries with right-wing governments?Brazil, Chile, Argentina, Colombia, Paraguay, Peru, Ecuador, and Uruguay?sequentially withdrew, rendering the organization largely ineffective.

Brazilian President Luiz In?cio Lula da Silva (left) is welcoming Argentine President Alberto Fern?ndez, who visited Brazil, at the Pal?cio da Alvorada, the presidential residence in Bras?lia, the capital, on the 2nd (local time).
[Photo by Bras?lia EPA/ Yonhap News]

However, with the election of President Lula of Brazil in December last year, the revival of UNASUR has been anticipated. Other South American countries also share a sentiment in favor of rebuilding UNASUR. In November of last year, seven former presidents?including Michelle Bachelet of Chile, Jos? Mujica of Uruguay, and Dilma Rousseff of Brazil?along with about 50 political and business figures, issued a joint statement emphasizing the need to rebuild UNASUR.

After taking office, President Lula signed the document to rejoin UNASUR on April 6. During his presidential campaign, Lula also proposed the idea of creating a single South American currency called the "Sur." The word "Sur" means "south" in Spanish.

On the 30th (local time), a South American summit was held at the Itamaraty Palace in Bras?lia, attended by President Lula and the presidents of 11 countries: Argentina, Bolivia, Chile, Colombia, Ecuador, Guyana, Paraguay, Suriname, Uruguay, Venezuela, and the chairperson of Peru's Council of Ministers. Peru's President Dina Boluarte, who is experiencing a political crisis, did not attend the meeting.

President Lula proposed agendas such as resuming discussions on regional integration organizations like UNASUR and introducing a single South American currency to reduce dependence on the dollar in trade among South American countries. At the meeting, President Lula appealed, saying, "It is necessary to redefine our shared vision and have a concrete vision for the welfare of our people," urging an end to division and a move toward reintegration.