“Bolivia can become the axis of coordination of the most important economic blocks in South America,” highlights the CEPB.

After the approval of Bolivia's accession project to the Southern Common Market (Mercosur) in the Chamber of Deputies, the Confederation of Private Entrepreneurs of Bolivia (CEPB) highlighted that it is a fundamental step towards the development and integration of the country with the region.

Through a statement, the CEPB welcomed the approval of bill 225, which was sent to the Senate for review.

“We welcome the approval, in the Chamber of Deputies, of the Bill that ratifies Bolivia's accession to the Southern Common Market; and allows us to take a fundamental step to advance in integration, development; and growth with sustainability,” the statement reads.

The bill was passed Thursday night. It has a single article that ratifies the accession protocol of the Plurinational State of Bolivia to Mercosur; signed in Brasilia, Brazil, on July 17, 2015.

MERCOSUR

Private businessmen see that this accession will make Bolivia an articulating axis of the economic blocks of South America.

“By being a full member of the Andean Community (CAN) and Mercosur, Bolivia can become the axis of coordination of the most important economic blocks in South America. Dialogue is the best way; and consensus is always possible,” the statement states.

Mercosur is one of the regional integration organizations in South America, made up of Argentina, Brazil, Paraguay, Uruguay and Venezuela (suspended since 2017).

Once the document is approved by the Legislature and promulgated by the Government of Luis Arce; It must be deposited with the Government of Paraguay, in its capacity as the depositary country of Mercosur.

The Plurinational State of Bolivia has a period of up to four years to adopt all the regulatory baggage of the bloc. And consolidate reciprocal free trade with Brazil, Argentina, Uruguay and Paraguay.