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Bolivia joined as a full member of Mercosur: It is a historical milestone

Bolivia joined as a full member of Mercosur: It is a historical milestone

Bolivia was accepted as a full member of the Mercosurafter the Senate of Brazil, the last obstacle that the president’s government was missing Luis Arce, approved in the last hours the entry to the block that also makes up the Argentina, Uruguay and Paraguay.

President Luiz Inácio Lula da Silva must promulgate the law of accession of Bolivia as a full member of Mercosur for the bloc’s semiannual summit will be held on December 7 in Rio de Janeiro.

Two of the 81 senators opposed the entry of Bolivia. Brazil was the only one that needed to ratify the entry of Bolivia to the South American bloc.

Arce thanked Bolivia for joining Mercosur

“The Plenary of the Senate of Brazil approved the Draft Decree for the accession from Bolivia to Mercosur. We appreciate the efforts of the brother president Lula and to the Brazilian people for this historical milestone in Latin American integration,” Arce wrote on the social network

“The people of the south are committed to integration to face the challenges represented by the multidimensional crisis that threatens humanity,” said the Bolivian president.

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The Brazilian president extended his gratitude to “the senators for completing this process”while congratulating Arce in “Bolivia for joining us in Mercosur.”

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Bolivia entered Mercosur after 16 years of discussions

The discussion about the possibility of Bolivia joining Mercosur began during the first government of Lula, in 2006, and in January 2007 the bloc accepted the request of the neighboring country, during a summit held in Rio de Janeiro.

Bolivia, which is an associate member, will need to adapt to Mercosur to adopt the bloc’s common nomenclature, the Common External Tariff and the Regime of Origin.

During the session in Congress, Senator Chico Rodrigues, of the Brazilian Socialist Party of the vice president Geraldo Alckmin, stated that the approval of the proposal It is important to “expand” trade in South America.

“No less important is the opening or expansion of the market for Brazilian companies, with the possibility of using cheaper energy, remembering that Brazil and Argentina are already Bolivia’s main trading partners”said.

It is the first entry of a country into the bloc after the experience recorded by Venezuela, which joined the bloc but was suspended since 2017 for non-compliance with statutes.

At the moment, Bolivia it’s a associated status to Mercosur, same condition of Chile, Peru and Colombia.

According to the protocol, Bolivia must adopt the current Mercosur regulatory agreement gradually, within a maximum period of four years from the date of entry into the bloc.

Source: Ambito

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