Rio de Janeiro, July 8 (Xinhua) - Bolivian President Ars é submitted relevant documents to the rotating presidency of Paraguay approving Bolivia's accession to this regional organization at the Southern Common Market (MERCOSUR) summit held in the capital of Paraguay, Asuncion, on July 8. This marks the completion of the legal process for Bolivia to become a full member of the Southern Common Market.
At the text submission ceremony, Arse said that joining the Southern Communist City is a "milestone" in promoting Bolivia's comprehensive development, strengthening economic, cultural, and trade exchanges between Bolivia and other countries in the region, and promoting regional integration.
Alse stated that Bolivia will actively contribute to the development of MERCOSUR and strengthen cooperation with other member countries in areas such as trade and investment.
In March 1991, the presidents of Argentina, Brazil, Paraguay, and Uruguay signed the Treaty of Asuncion in the capital of Paraguay, announcing the establishment of the Southern Common Market, a Latin American regional integration organization. In January 1995, the Southern Communist City was officially launched. Afterwards, Bolivia became an associated country of the Southern Communist City. On December 7, 2023, at the 63rd summit held in Rio de Janeiro, Brazil, the Southern Communist City announced that Bolivia had become an official member of the city.
