On Wednesday, the Bolivian Senate approved the country’s full membership in Mercosur, forwarding the decision to the executive branch.
Bolivia, an associate member since 1998, signed the accession protocol in 2015. Ratification from the legislatures of Argentina, Brazil, Paraguay, and Uruguay was needed.
Brazil’s Parliament approved Bolivia’s membership in November 2023, celebrated at the Mercosur Presidential Summit in Rio de Janeiro in December.
The Bolivian House and Senate approved the legislation on June 14. President Arce will sign it and attend the Mercosur summit on July 7-8. Here, Uruguay will assume the temporary chairmanship of Mercosur.
Bolivia must now harmonize its laws with Mercosur standards within four years, focusing on customs regulations. This harmonization is key to integrating fully into Mercosur’s economic and political systems.
The Senate session saw participation from Brazilian Ambassador Luis Henrique Sobreira and Paraguayan Ambassador Terumi Matsuo.
Senate President Andrónico Rodríguez underscored the significance of Bolivia’s integration, which aims to open market opportunities and boost trade with Brazil, Argentina, Paraguay, and Uruguay.
Founded in 1991, Mercosur encourages free trade and the smooth movement of goods, people, and currency.
Bolivia’s entry into Mercosur strategically strengthens its regional economic ties, enhancing market access and economic diversification.
Recently, Mercosur denounced a coup attempt in Bolivia, reinforcing its commitment to democracy. The bloc, now including Bolivia, stands firm against any unconstitutional power seizures.
Bolivia’s integration into Mercosur strengthens economic and political alliances in South America, emphasizing the importance of political stability and regional cooperation.