Bolivia's Entry In Mercosur Important Step In Regional Integration: Minister

2024-07-15 03:15:10

(MENAFN- IANS) La Paz, July 15 (IANS) Bolivia's full entry into the Southern Common Market (Mercosur) is a historic event and represents a "very important hinge in regional integration," said Foreign Affairs Minister Celinda Sosa Lunda.

Mercosur "offers many opportunities" for Bolivia, Sosa said, thanking its member countries of Argentina, Brazil, Paraguay and Uruguay, reports Xinhua news agency.

While Bolivia's accession to Mercosur takes effect in 30 days, the country will have up to four years to adopt the bloc's regulations.

Bolivia's membership promises significant economic benefits and strengthens the country's position in the region, as 70 per cent of its border is with Mercosur member countries, facilitating cross-border mobility and trade, said Sosa.

Mercosur was created in 1991 to promote free trade and the free movement of people and capital among its member countries.

MENAFN15072024000231011071ID1108438479

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.