“Mercosur has consolidated itself as a fundamental axis for South American integration and is advancing with the arrival of Bolivia and new international agreements”, Lula celebrated, through a publication on social media, Bolivia’s entry into Mercosur made official at the summit of heads of State of the commercial block, this Thursday (07/12).
At the Museum of Tomorrow and talking about the future. Mercosur has consolidated itself as a fundamental axis for South American integration and is advancing with the arrival of Bolivia and new international agreements.
— Lula (@LulaOficial) December 7, 2023
After the approval of the proposal by the Brazilian Senate and its ratification by the presidency, the Bolivian leader, Luis Arce, thanked the PT member for the efforts that made it possible for his country to join the South American group.
“We are grateful for the intense efforts of brother President Lula, which allowed the Brazilian Congress to approve the Protocol of Accession of the Plurinational State of Bolivia as a full member of this important regional bloc”, Arce publicly declared on his social network.
We participated in the Meeting of Heads of State of the Member Countries of the #Mercosur, In janeiro river. We appreciate the intense efforts of the brother president @LulaOficialwhich allowed the Congress of the #Brazil the approval of the State Accession Protocol… pic.twitter.com/gyw45CJG2N
— Luis Alberto Arce Catacora (Lucho Arce) (@LuchoXBolivia) December 7, 2023
President Lula stated that Mercosur will gain strength by “welcoming 12 million Bolivian sisters and brothers”, explaining that the new membership will represent a sum of “43 billion dollars” to the bloc’s GDP.
For the next steps, the Brazilian Ministry of Foreign Affairs expects the Bolivian government to complete its accession process quickly so that it can “define the schedule for the internalization of Mercosur rules and regulations”.
It is worth remembering that Brazil is Bolivia’s main economic partner, which, in turn, has had a very positive performance in recent times, reducing its poverty rate by 40% in the last decade,
The World Bank estimates growth of 2.7% for the new member of the bloc in 2023, while the International Monetary Fund (IMF) predicts 1.8%. The numbers are good, since projections are above the 1.6% growth rate expected for South America.