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EU to forge greater partnership with Latin America and Caribbean

Jun 08, 2023 News

Kaieteur News – With the aim to create a stronger, modernised strategic partnership by boosting trade and investment for more sustainable, fair and inter-connected societies, the European Commission on Wednesday adopted a joint communication, setting out a new agenda for relations between the EU and Latin America and the Caribbean.

A press release from the EU noted that Latin America and the Caribbean are key allies to defend and strengthen a rules-based international system.

The EU noted that “together, the two represent almost one third of the membership of the United Nations (UN);” while adding that, “they are strong supporters of international law and the UN Charter.”

Additionally, it was noted that the Region is vital to the ecological balance of the planet, with over 50% of the planet’s biodiversity and is also a major food producer, accounting for 14% of global food production and 45% of net international agri-food trade, and a renewable energy powerhouse as its generation mix has the largest share of renewables in the world, amounting to 61% in 2021.

President of the EU, Ursula Von der Leyen  was quoted as saying “Today, the EU–LAC strategic partnership is more important than ever.  We are key allies to strengthen the rules-based international order, stand up together for democracy, human rights and international peace and security. “

“We also have an interest in strengthening our political partnership and engagement, fight climate change and to take forward an inclusive, human-centred digital transformation. Our Global Gateway will also boost investment and closer cooperation.”

Regarding political partnership, the release notes that this is planned to be boosted at the bi-regional, sub-regional, bilateral and multilateral levels.

At the bi-regional level, it proposes to enhance dialogue between the EU and the Community of Latin American and Caribbean States (CELAC), with more regular Summits and a permanent coordination mechanism.

Sub-regionally, the release said the Caribbean merits increased political attention through the finalisation of the post-Cotonou Agreement, in addition to engagement with other sub-regional groups such as Mercosur, the Central American Integration System (SICA) and the Andean Community or the Pacific Alliance.

Meanwhile, at the bilateral level, the release said that the new agenda eyes relaunching summits with strategic partners Brazil and Mexico, as well as establishing political dialogue mechanisms with a number of countries that do not currently have them; are other priorities.

The new agenda communication also proposes increased cooperation at multilateral level to address jointly regional and global challenges in line with shared values, interests and objectives; noting that “both regions have an interest in working together for a reform of the global financial architecture, in particular multilateral development banks, and forging a new global financing pact.”

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