The bloc’s member countries have committed to strengthening financial and monetary stability in order to deepen regional integration.
The States Parties to the Mercosur They pledged to achieve greater “macroeconomic convergence” after the meeting LXIV Summit of Presidents of Mercosur in Asuncion (Paraguay), in a quest to strengthen the financial, monetary and price stability of the different countries, in order to deepen regional integration.
This Monday, in a joint statement, the Republic President, Luis Lacalle Pouand the other leaders of the South American economic bloc reaffirmed their intention to “coordinate macroeconomic policies” in order to promote the intra-zone trade and that allow for the cooperation of local economies in the face of extreme weather events.
In this regard, the following was highlighted: Common External Tariff (AEC) agreed in July 2022 and the need to continue the comprehensive review process of the AEC to strengthen its consistency and reduce its dispersion was once again highlighted.
They also welcomed the creation of the Ad Hoc Committee on Measures Affecting Intra-Zone Trade (CAH-MACI), which, according to the document, will allow for the identification of taxes and restrictions that limit or prevent the exchange of goods and services in the bloc.
Reducing asymmetries between States Parties
All the presidents agreed on the importance of Mercosur Structural Convergence Fund as a tool to reduce the asymmetries that exist between the States Parties and to strengthen the integration process between them.
On the other hand, they agreed to highlight the need to move forward in the implementation of financing projects and initiatives with the support of cooperation institutions between States, as well as in the implementation of the different memoranda of understanding in force with international and regional organizations.
Regarding border integration, they welcomed the recent entry into force of the “Agreement on Linked Border Localities of Mercosur” between Uruguay and Paraguay, which will facilitate local movement and enable border populations to access various benefits.
Source: Ambito
