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Economics

Alckmin believes Mercosur will become stronger after Bolivia's accession

Mercosur continues to expand and demonstrate its strength in the international arena

Geraldo Alckmin. Vice President and Minister of Development, Industry, Trade and Services of Brazil, highlighted that Mercosur will become stronger after Bolivia's accession at the opening of the The Council of the Common Market meeting held in Rio de Janeiro on 6 December. This is reoported by Brasil 247, a partner of TV BRICS.

He said that the signing of the Mercosur-Singapore agreement and Bolivia's entry into the economic bloc will lead to increased investment and trade in the region.

In his remarks, the vice president said Bolivia's accession to Mercosur will bring even more opportunities for regional integration and co-development. It is important to note that Bolivia's inclusion must be approved by its legislative assembly.

Foreign Minister of Brazil Mauro Vieira emphasised that during Brazil's interim presidency of Mercosur, discussions took place on Bolivia's inclusion and the establishment of standards that will serve as a basis for the bloc's further development.

Alckmin also emphasised the importance of Mercosur for Brazil, noting that the bloc's countries make up Brazil's fourth largest trading partner. Around 80 per cent of Brazil's exports to Mercosur are manufactured goods and semi-finished products. The vice president said the bloc's partners play an important role in the country's neo-industrialisation project.

He stressed that although the world is globalised, trade is still largely regional. Intra-bloc trade in Mercosur is only 10 per cent,. The Vice President hoped to change this situation and increase intra-bloc trade.

Photo:  IStock

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