Русский
Vladimir Putin has met with Luis Alberto Arce Catacora, the President of Bolivia, following the 2024 BRICS Summit in Kazan.
This is what they had to say:
Putin:
“I am delighted to see you in Russia again. Your visit to St Petersburg in June was very fruitful. We held substantive talks and attended the plenary session of the St Petersburg International Economic Forum.
Russian-Bolivian cooperation is based on the solid traditions of friendship and mutual respect. Our bilateral ties are developing consistently across many spheres, including politics, the economy, trade, education, and culture. Our countries have similar views on the fundamental principles of international order, and we are working jointly at the UN.
We appreciate your decision to accept our invitation to attend the BRICS Summit in Kazan. I hope you are not disappointed. During the expanded session in the BRICS Plus/Outreach format today, we heard the strong voice of Latin America, which is represented by the heads of many regional states that share the fundamental goals and principles of our group. We listened with great interest to your assessment of the current geopolitical situation, which you made during your address.
I believe that the summit was a success. We can see that the Global Majority countries increasingly see BRICS as a truly authoritative group that the international community needs.”
Catacora:
“President Putin, thank you very much for the warm reception. We are always happy to attend such events and to have the opportunity to engage in direct dialogue on various subjects with you.
The main issue of concern to us today in the context of recent news is the status of a BRICS partner country. Does this mean that we can become a full member? How are such questions considered? Also, does the BRICS modality offer access to full membership? This is the topmost question I would like to discuss with you today in light of the latest media reports.”
Analysis & Implications
Bolivia has been offered the status of a ‘BRICS Partner’ country, however, there is a new protocol to go through beforehand which Putin and his team will have explained to Catacora. Bolivia will need to ratify this process.
Bolivia borders fellow BRICS member Brazil to the north and is the largest land-locked country in South America. Seaport access is via Peru.
Bolivia has the world’s largest lithium reserves, second-largest antimony reserves, third-largest iron ore reserves, sixth-largest tin reserves, ninth-largest lead, silver, and copper reserves, tenth-largest zinc reserves, and undisclosed but productive reserves of gold and tungsten. Additionally, there are believed to be considerable reserves of uranium and nickel. Bolivia’s Lithium reserves make it a key source for future technologies, including semi and super-conductor production. Bolivia also has the second-largest natural gas reserves in South America.
It is a member of the Andean Community, and an associate member of Mercosur, with full incorporation pending. The Andean Community includes Colombia, Ecuador, and Peru, while Mercosur includes Argentina, Brazil, Paraguay, and Uruguay. Bolivia has a population of about 11.50 million, a GDP (PPP) of about US$125 billion, and a per capita GDP (PPP) estimated at US$10,340. 2024 GDP growth is expected to reach 1.6%.
In terms of bilateral trade with Russia, current bilateral trade is running at about US$120 million per annum with Russia exporting the bulk of this. However, Moscow is on the lookout for new agricultural partners meaning Bolivian exporters now have the opportunity to increase their share.
Another key trade area likely to receive a boost is lithium carbonate, a critical component in the growing electric vehicle and renewable energy sectors. Chile, together with Argentina, last year halted lithium carbonate shipments to Russia, a move that now places Bolivia as a key supplier for Russia’s lithium needs. Bolivia has the world’s largest lithium reserves, a key component in battery manufacturing. China’s EV auto industry is already active in Bolivian lithium mining.
The main products that Russia exports to Bolivia are Vaccines, blood, antisera, toxins and cultures, Refined Petroleum, and Packaged Medicaments. The main products that Bolivia traditionally exports to Russia are Carbonates, Inorganic Salts, Coconuts, Brazil Nuts, and Cashews.
Further Reading
