Bolivia’s MERCOSUR Membership: Enlargement Effects for the Trade Bloc and Russia

Abstract

The article examines Bolivia’s full membership in MERCOSUR. The main trends in the country’s economic development and foreign trade are analyzed. The effects of the expansion of the South American Common Market for both the national economy of Bolivia and the bloc as a whole are assessed. Particular attention is paid to examining Russia-Bolivia trade and economic cooperation are considered. The impact of Bolivia’s accession to MERCOSUR on the prospects for trade and economic cooperation between Russia and this integration association is analyzed. It is concluded that Bolivia’s accession to MERCOSUR could strengthen Russia’s position within the bloc not only in a political sense, but also in terms of the further development of bilateral cooperation in high-tech areas.