The 46th Presidential gathering of the Southern Common Market (Mercosur) is underway in Caracas, Venezuela. Venezuelan Presiden tNicolas Maduro, is the current and outgoing President of the regional bloc.

Presidents Evo Morales (Bolivia), Jose Pepe Mujica (Uruguay), Horacio Cortes (Paraguay), Dilma Rousseff (Brazil), Cristina Fernandez de Kirchner (Argentina) have arrived in Caracas.

The 46th Presidential Gathering of Mercosur began with a floral offering in honor of Venezuelan independence leader Simon Bolivar and a series of cultural acts showcasing Venezuelan folklore in Plaza Bolivar.

The South American leaders will meet privately at the headquarters of Venezuela's Foreign Affairs Ministry in the Casa Amarilla in the Sala Simon Bolivar. They will discuss an array of issues varying from the full incorporation of Bolivia into Mercosur as well as a resolution establishing an economic alliance between Mercosur, ALBA and Petrocaribe.

During their session, Mercosur will also transfer the Presidency to Argentina.

Addititional discussions focusing on sustainable development, the environment and integration based on the vision of the region's indigenous will also be included based on suggestions from social movements and businesses.

Rousseff has announced interest in discussing the current events in Gaza in what she has deemed a massacre.