Bolivia seeks greater economic complementarity through full membership in Mercosur

Bolivia’s full membership in the Southern Common Market (Mercosur) will foster economic complementarity and a more balanced utilization of tariff preferences in the South American region, according to Bolivian Foreign Minister Rogelio Mayta.

During the Mercosur Common Market Council meeting, Mayta expressed Bolivia’s belief that joining Mercosur will facilitate productive integration, adopt structural convergence measures, and fairer use of tariff preferences based on gradualness, flexibility, and balance principles.

Bolivia currently holds a special status as a “member in the process of accession,” granting it speaking rights but not voting privileges.

The protocol for Bolivia’s accession to Mercosur was signed in 2015 by all member states and is undergoing the incorporation process in the respective national congresses.

Argentina, Uruguay, Paraguay, and Venezuela have already approved Bolivia’s incorporation, with the endorsement of the Brazilian Parliament remaining.

Mayta emphasized that Bolivia sees Mercosur as a means to be more proactive, proposing cooperation in sustainable water resource management and addressing the challenges of climate change in the region.

The Foreign Minister highlighted the integration generated by Mercosur, which serves as a valuable tool to tackle economic, political, and social challenges collectively.

Mercosur consists of Argentina, Brazil, Paraguay, Uruguay, Venezuela, Chile, Colombia, Ecuador, Guyana, Peru, and Suriname.

The organization aims to promote a free trade zone, common tariff agreements, and various productive complementation and integration mechanisms, making it economically significant across Latin America.

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