CARACAS, July 28 (Xinhua) -- Mercosur countries on Monday unanimously ratified their commitment to strengthen the regional trade bloc, which is considered key to countering the negative effects of neoliberal globalization in the Americas.

The foreign ministers of the Southern Common Market (Mercosur) member countries were gathered in Caracas, Venezuela, which holds the rotating presidency of the group, to prepare the economic and social agenda for the summit this Tuesday.

At the working session, Venezuelan Foreign Minister Elias Jaua touted Mercosur and other Latin American trade blocs as the means to consolidate regional integration and bolster economies.

As president of Mercosur, Venezuela has worked to establish a complementary economic zone comprised by the member countries of the Bolivarian Alliance for the Peoples of Our America (ALBA), the Caribbean Community (Caricom), Mercosur and Petrocaribe, according to the Venezuelan News Agency (AVN).

The agency cited Jaua as saying that Venezuela sees the initiative as a way to transform Latin America into a "regional pole of power, both political and economic."

He also acknowledged the support of all member countries in the development of a series of initiatives proposed by Venezuela, and the full membership in the bloc of Bolivia.

Argentine Foreign Minister Hector Timerman said Mercosur should play a unifying role in forging a regional economic policy tailored to the needs of Latin America.

"It is imperative to transform the financial, commercial and economic system imposed by the current capitalist model and in this regard Mercosur should take the leadership in the continent to promote wealth creation and the development of our nations," he said.

Timerman reiterated Argentina's commitment to continue working on the consolidation of Mercosur during its presidency, which starts Tuesday, based on an agenda that will prioritize the strengthening of the productive apparatus of the region.