Mercosur: they agreed on the need for it to function as a platform for market access and to deepen regional and extra-regional trade exchanges

Mercosur: they agreed on the need for it to function as a platform for market access and to deepen regional and extra-regional trade exchanges
Mercosur: they agreed on the need for it to function as a platform for market access and to deepen regional and extra-regional trade exchanges

Asuncion, IP Agency.- The presidents of the States Parties of Mercosur and Bolivia agreed on the need for Mercosur to function as a platform for market access and to deepen regional and extra-regional trade exchanges. In the joint statement, they stated their interest in transforming the regional bloc “into a competitive platform for its international insertion and into an efficient instrument to expand trade exchanges with third countries or groups of countries both in the region and the rest of the world and to generate more dynamic trade flows.”

Regarding the regional external agenda, they celebrated the conclusion of negotiations for the updated Regime of Origin between Mercosur and Chile, within the framework of the Economic Complementation Agreement, which will allow for the expansion of benefits for the industrial sector and promote investments, facilitate foreign trade, simplify control procedures, and apply a differentiated treatment between the Member States.

There is interest in strengthening trade agreements with Bolivia, Colombia, Ecuador, and Peru, as well as resuming contacts with the Republic of El Salvador, the Dominican Republic, and Panama with a view to reaching trade agreements with Mercosur.

Regarding the extra-regional external agenda, they welcomed the progress towards the entry into force of the Free Trade Agreement between Mercosur and Singapore. This constitutes the first agreement with a Southeast Asian country that will allow for the expansion of trade flows and improve the conditions for the establishment of investments.

They reiterated the importance of negotiations with the European Union and reaffirmed their willingness to conclude pending issues during the second half of 2024 and reach an agreement that is balanced and mutually beneficial for the Parties.

They also saw the adoption of the General Framework and the formal start of negotiations with the United Arab Emirates, the first round of which took place in the city of Asunción, from July 2 to 4, 2024, as a positive prospect. They highlighted that in this context, there was progress in the negotiations to reach the Comprehensive Economic Partnership Agreement (CEPA), which will contribute to increasing trade, investments and cooperation between the parties.

The 11th Round of Negotiations with the European Free Trade Association (EFTA) is also addressed in the statement by the presidents of Mercosur. They agreed on the “need for both parties to reaffirm their commitment to finalize the signing of a balanced and mutually beneficial trade agreement.” The statement also addresses the Fifth Meeting of the Dialogue to Strengthen Economic Relations between Mercosur and Japan.

The leaders fully agreed on the need for greater integration of Mercosur and this regional bloc with the world in order to achieve further development.

The LXIV Mercosur Summit of Presidents, held on July 8, 2024, in the city of Asunción, Paraguay, was attended by the Presidents of the Mercosur States Parties, Santiago Peña Palacios, for the Republic of Paraguay; Luiz Inácio Lula da Silva, for the Federative Republic of Brazil, Luis Lacalle Pou, for the Oriental Republic of Uruguay and the Minister of Foreign Affairs, International Trade and Worship, Diana Mondino, for the Argentine Republic, as well as the President of the State in the Accession Process, Luis Alberto Arce Catacora, for the Plurinational State of Bolivia.

 
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