The Sixty-Fourth Mercosur Summit in Paraguay
!!!
—Researched and Written by Alex Martín-Romero– Issue Jul 01-31 2024: On July 8th in Paraguay, the 64th summit of Mercosur (Southern Common Market) was held. The biggest headline was that Argentine President Javier Milei would not be attending; in fact, he had already advocated for pulling Argentina out of the agreement altogether. Although this was one of the main talking points of the summit, there were also more productive conversations and issues discussed. During the summit, the president of Paraguay, Santiago Peña, handed over the chair of the bloc to the president of Uruguay, Luis Lacalle Pou. In addition, Panama made a push to join Mercosur. Currently, Mercosur is not going through its best moments as in recent years political volatility and lack of agreements and communication have made it very difficult for trade agreements to create better economic outcomes for the participating countries. This attitude weakens Mercosur. Currently, Mercosur represents the equivalent of the world’s 7th largest economy, with a GDP of $ 2.86 trillion.
To read the full content subscribe today!