MERCOSUR

Bolivia would get full membership in MERCOSUR in order to increase trade with member countries.

About MERCOSUR (Southern Common Market):

• It is a regional trade bloc in South America established in 1991, with the signing of the Treaty of Asunción.
• Its founding members are Argentina, Brazil, Paraguay, and Uruguay, with Venezuela currently suspended since 2016.
• The bloc also includes associate members such as Chile, Peru, Colombia, Ecuador, Guyana, and Suriname, and observer states like New Zealand and Mexico.
• The primary objective is to create a common market to promote economic integration and cooperation among its member states.
• This is to establish a unified tariff system for trade with non-member countries, align macroeconomic and sectoral policies, and promote free movement of goods, services, and factors of production.
• The governing bodies of MERCOSUR include:
  • Council of the Common Market (CMC)- the highest decision-making body
  • Common Market Group (CMG)- coordinates macroeconomic policies
  • Trade Commission- oversees trade policies and tariffs
  • Parliament of MERCOSUR (Parlasur)- a consultative body representing citizens of member states.
• It is a crucial player in regional and global trade dynamics, with economic impact and political influence in promoting democracy and human rights in the region.
• The bloc also fosters social and cultural ties among member countries, promoting a sense of regional identity.

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