Luis Arce promulgates the law of Bolivia’s accession to Mercosur

Bolivian President Luis Arce promulgated the law of Bolivia’s accession to the Mercosur after seven months of waiting in Parliament and with which the country projects to become a “coordinating axis” of the South American region.

“The incorporation of #Bolivia as a member country of MERCOSUR has a strategic character because it means being part of an important space for regional integration, commercial exchange, productive strengthening and makes us a connecting axis in the region,” Arce said on the social network X.

The president said that the law on Bolivia’s accession to Mercosur was submitted to the legislature in mid-December, but was only approved in June by the Chamber of Deputies and this Wednesday by the Senate.

“After almost 7 months, the law was finally sent to us today, and we immediately promulgated it today,” said the Bolivian head of state.

The approval of Bolivia’s accession to the regional bloc took place in a context of polarization in the legislature, with the ruling Movement Towards Socialism (MAS) faction divided by internal problems and differences with the opposition on several issues.

Bolivia has been an associate member of Mercosur since 1998 and in 2015 signed the accession protocol, which required the approval of the legislative bodies of Argentina, Brazil, Paraguay and Uruguay. All that was left was for the Brazilian Parliament to ratify Bolivia’s accession, which finally occurred in November 2023 and was made official at the 63rd presidential summit of the regional bloc held in December in Rio de Janeiro.

Bolivia has up to four years to adapt its legislation to that of Mercosur, mainly its tariff regime, and thus complete its accession process. Arce plans to participate in the Mercosur Summit to be held in Asunción, the Paraguayan capital, on July 7 and 8, where the host country will hand over the temporary presidency of the bloc to Uruguay.

Paraguay welcomes Bolivian Senate’s approval of Mercosur accession protocol

Paraguay, which holds the pro tempore presidency of Mercosur, welcomed on Thursday the approval by the Bolivian Senate of the protocol for that country’s accession to this economic bloc, which it considered represents “one more step in integration.”

In a statement, Paraguay stressed that the incorporation of Bolivia “strengthens Mercosur and opens up new perspectives and opportunities to increase trade and investment, as well as possibilities to deepen cooperation on social issues for the five countries.”

The decision was made just days before the summit of Mercosur presidents, which Asunción will host next Monday and in which Paraguay will transfer the rotating presidency to Uruguay. In addition, the Paraguayan government noted in the note that the incorporation of Bolivia as a full member has been ratified by Argentina, Uruguay, Paraguay and Brazil, the countries that currently make up the Southern Common Market (Mercosur).

Bolivia has been an associate member of Mercosur since 1998 and in 2015 signed the accession protocol, which required the approval of the legislative bodies of Argentina, Brazil, Paraguay and Uruguay.

All that was left was for the Brazilian Parliament to ratify Bolivia’s accession, which finally occurred in November 2023 and was made official at the 63rd presidential summit of the regional bloc held in December in Rio de Janeiro.

The Andean country has up to four years to adapt its legislation to that of Mercosur, mainly its tariff regime, and thus complete its accession process. On June 14, the Chamber of Deputies of Bolivia endorsed the protocol, which was sent after the Senate vot
e to the Executive for President Luis

Arce signs it and enters into force

EFE