Bolivia eagerly awaits its anticipated integration into Mercosur, the Southern Common Market, during the upcoming summit in Rio de Janeiro, Brazil.
The Bolivian government expressed optimism about this significant step.
In a recent press conference, Deputy Minister of Foreign Trade and Integration, Benjamín Blanco shared these views.
He noted that Bolivia’s long-awaited full membership in Mercosur is almost a reality, creating a buzz of excitement and hope.
Blanco highlighted Brazil’s crucial role in finalizing Bolivia’s accession. He mentioned that Brazil is the last country needed to complete the necessary constitutional procedures.
The process nears completion with the Brazilian Senate’s approval of Bolivia’s membership protocol.
This ratification step is essential, as it involves agreement from all four Mercosur member countries.
Joining Mercosur marks a strategic milestone for Bolivia.
It will become the sole nation to be a part of both key South American integration blocks: the Andean Community and Mercosur.
Blanco emphasized Bolivia’s unique position as a link between these two blocs. He pointed out Bolivia’s central role in South America’s geopolitical landscape.
The membership protocol involves progressive commitments for Bolivia. These include gradually adopting Mercosur’s common external tariff over a four-year period.
Additionally, Bolivia will align with Mercosur’s trade nomenclature. This process aims to rectify trade imbalances.
Bolivia’s economic complementation agreement with Mercosur since 1997 has primarily benefited the gas sector, lacking equitable distribution.
Bolivian President Luis Arce is currently in Brazil for the Mercosur summit. He joins the preparatory meetings with Foreign Minister Celinda Sosa.
Their participation signifies Bolivia’s commitment to strengthening its role and relationships within South America.
This historic event marks a new chapter in Bolivia’s regional integration and international trade relations.