Venezuelan President Hugo Chavez and his Uruguayan counterpart Tabare Vazquez on Wednesday stressed the necessity of reforming the Common Market of the South (Mercosur), said reports from Paraguay's capital Asuncion.

Chavez said that Mercosur need reform to ensure its continued function.

Uruguayan President Vazquez said that Paraguay and Uruguay had severe problems within Mercosur, adding that integration of the bloc and the region were important.

"We have to improve things because this is not the Mercosur that either Uruguay or Paraguay wants," he said.

The two presidents were in Asuncion to meet their counterparts Nicanor Duarte Frutos of Paraguay and Evo Morales of Bolivia at the Energy Summit which would end on Thursday.

Mercosur consists of Argentina, Brazil, Paraguay and Uruguay. Bolivia is an associate member of Mercosur and Venezuela is on track to a full membership of the trade bloc.

Source: Xinhua