The Brazilian Senate has approved Bolivia's accession to the Southern Common Market (MERCOSUR), an economic bloc to which the South American giant belongs, along with Argentina, Uruguay and Paraguay. Now that the parliamentary process is over, the approval of the National Executive Branch remains, and if it also obtains its approval, it will be promulgated as law.
In this regard, the portal of the Brazilian Senate reported that it was approved this Tuesday (28.11.2023/XNUMX/XNUMX) “the text of the Protocol of Accession of Bolivia to MERCOSUR. The draft legislative decree approving the text (PDL 380/2023) is now up for promulgation«.
The Brazilian senators also approved "a request to create a temporary commission of five regular members to, within a period of 180 days, verify on the ground the political and social situation in Bolivia and compliance with the democratic clause of MERCOSUR (RQS 1.067/2023). "
Once the respective approval is concluded, Bolivia will have a period of four years to complete the formal accession process through the gradual adoption of all MERCOSUR regulations, including the Common Nomenclature of MERCOSUR, the Common External Tariff and the rules of origin.
Bolivia is currently an associate state of MERCOSUR, along with Chile, Peru and Colombia. The Brazilian Pro Tempore Presidency of MERCOSUR is expected to announce this parliamentary procedure during the Summit on December 7 in Rio de Janeiro, when it will hand over power to Paraguay.
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