Asunción, Agencia IP.- Paraguay will hand over the pro tempore presidency of Mercosur to Uruguay this Monday at a summit held in Asunción amid agreements on the need to modernize the bloc to target new trade negotiations.

The Summit of Heads of State, hosted by the President of the Republic, Santiago Peña, will commence at 10:00 AM this Monday. His counterparts from Brazil, Uruguay, and Bolivia will also be in attendance.

The Argentine President, Javier Milei, will not attend the bloc’s meeting, citing «scheduling issues.» Additionally, the President of Panama, José Raúl Mulino, will be present as a guest.

During the LXIV Ordinary Meeting of the Common Market Council held this Sunday in Asunción, the Minister of Foreign Affairs highlighted that Mercosur is called to be a fundamental part of a broader Latin American integration process and advocated for its modernization to consolidate regional and global value chains.

He also admitted that while there were some advances during the Paraguayan pro tempore presidency, the understanding process has been slow and complex. This demonstrates the importance of seeking a formula to make Mercosur’s progress toward its necessary update more agile and dynamic.

Furthermore, he mentioned that Paraguay believes the modernization of the integration model essentially involves achieving unimpeded internal trade, which would allow for the consolidation of regional and global value chains.

He stated, «Mercosur represents a beacon of hope and solidarity in South America, fulfilling the dreams and aspirations of our people. To remain relevant, we must strive for the utmost diligence in achieving ambitious goals and agreements. I am confident that with determination and willpower, we can build a stronger, more inclusive, and resilient bloc together.»

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