Bolivia was admitted as a new member of the common market of South Latin American countries (Mercosur) at the summit of the trade group in Rio de Janeiro.
“Our group will grow stronger with the accession of 12 million Bolivian brothers and sisters, and Mercosur’s economic output will increase by 43 billion dollars,” Brazilian President Luiz Inacio Lula da Silva wrote on Thursday via the X platform.
“Bolivia is one of the fastest growing economies in the region and the world, rich in natural resources that pave the way for the energy transition,”Lula added.
Bolivia, for example, has large stocks of lithium used in the manufacture of car batteries.
In addition to the new member Bolivia, the Mercosur bloc includes Brazil, Argentina, Paraguay and Uruguay, and Venezuela’s membership has been suspended since 2016 due to the style of government of President Nicolas Maduro.
Mercosur is currently negotiating a free trade agreement with the European Union, however, the agreement has not yet been concluded due to the opposition of France and Argentina in particular.
