LXII Summit of Heads of State of MERCOSUR and Associated States and LXII Ordinary Meeting of the Common Market Council - July 3rd and 4th, 2023

The 62nd Summit of Heads of State of MERCOSUR and Associated States will be held in Puerto Iguazú on July 4th, preceded on July 3rd by the ordinary meeting of the Common Market Council, the decision-making body at the ministerial level. These two meetings mark the end of Argentina's rotating presidency of MERCOSUR (PPTA) and the beginning of Brazil's presidency (PPTB) in the second semester of 2023.

During the PPTA, the work to strengthen MERCOSUR's economic and trade aspects and commercial negotiations continued. The revision of MERCOSUR's origin regime was approved, updating the bloc's regime to align the bloc with international best practices and facilitate its use for trade operators. Likewise, progress was made in negotiations to update the specific commitments lists regarding services in the Montevideo Protocol on Trade in Services.

Regarding external relations, MERCOSUR and the European Union maintained discussions at political and technical levels, aiming to achieve a balanced outcome in the negotiation of a bi-regional agreement. This effort will continue during the PPTB. MERCOSUR also engaged with partners whose negotiations are pending technical definitions, such as the European Free Trade Association (EFTA), which comprises Iceland, Liechtenstein, Norway, and Switzerland. In the region, dialogue advanced towards improving the bloc's trade agreements with Chile and Colombia, as well as exploratory dialogues with the Dominican Republic and El Salvador.

In the social agenda, the semester was marked by the resumption of the MERCOSUR Social Summit, which had been interrupted in 2016. The event saw the participation of civil society organizations and social movements from the four Member States and Associated States of the bloc. The debate was organized into various thematic panels, covering areas such as the environment, gender, justice, health, science, labor, and human rights.

In 2022, intrazonal trade within MERCOSUR amounted to $46 billion. The bloc's trade in goods with the rest of the world reached $727 billion, with a surplus of $69 billion. The main destinations for the bloc's exports were China, the United States, and the European Union. MERCOSUR is the main recipient of foreign investment in the region.

During Brazil's presidency of MERCOSUR in the second semester, priorities will include strengthening the bloc and its citizen-focused agenda, as well as enhancing transparency and social participation.