The Brazilian Chamber of Deputies approved on Wednesday (18.10.2023) the protocol for Bolivia's accession to the Southern Common Market (MERCOSUR). The bill will now be sent to the Senate for consideration.
If approved, Bolivia would become a member of the trade bloc of which Argentina, Brazil, Paraguay and Uruguay are “founding states” and “State Parties.” On the other hand, Venezuela is suspended and Bolivia is in the process of joining.
According to the protocol, With the gradual accession of Bolivia to MERCOSUR, the country must comply with the standards established in the Treaty of Asunción, which created the regional bloc. It must also commit to the promotion and protection of human rights and adopt the MERCOSUR Common Nomenclature (NCM), the Common External Tariff and the MERCOSUR Regime of Origin.
If the accession is approved, a group must be formed with representatives of the member countries, which will draw up a schedule that Bolivia must follow to gradually adopt the MERCOSUR norms over four years.
During this process, instruments must be established to reduce asymmetries between participating states, promoting balanced economic development in MERCOSUR and guaranteeing treatment no less favourable than that existing between the parties.
Bolivia is an Associate State of the bloc, along with Chile, Colombia, Ecuador, Guyana, Peru and Suriname. The country requested to join the bloc as a State Party in 2015.
This is in response to the interest in continuing to advance towards Latin American integration, as can be seen from the applicable regulations.Approval in the Chamber of Deputies)
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