Background: In 1999, a partnership was established between the EU and Latin America and the Caribbean countries and is the basis for relations between the two regional groups. In November 2006, the Euro-Latin American Assembly is created. Today, the EU is the second largest trading partner in Latin America and the first for the Mercosur countries, as well as the largest investor in the region.
The Latin American continent has kept its market access despite the economic crisis and regional integration has deepened.
Several changes have occurred recently: Venezuela joined Mercosur, while Paraguay's participation has been temporarily suspended. End of 2012, Bolivia has to negotiate its membership. In addition, Chile, Colombia and Peru concluded the Pacific Alliance. Brazil is a country of increasingly strategic for the region. While China's influence is growing, the EU has rather decreased in parallel.
Concerning the evolution of Latin America, the region progress towards economic development, while governments strengthen their support to the deepening of democracy. The Latin American countries have also increased their investments in infrastructure.
Situation and perspectives: vis-à-vis Latin America, the European Union provides priority to:
- strengthen the political dialogue;
- boost trade and economic
- develop a framework for investment;
- establish dialogues for social cohesion and the environment;
- tackling inequalities and review policies for development assistance;
- fight against drug trafficking and corruption;
- strengthen democratic governance;
- increase cultural cooperation and education.
Recent agreements EU-LA: trade agreement with Colombia and Peru, association agreement with Central America and association agreement with Mercosur.
- Intensify dialogue EU-AL and the role of bi-regional bodies in international fora.
- Reflect the growing influence of Brazil and China.
- Strengthen the democratic credentials of the EU.
- Tighten the historical and cultural ties and deepening of the relationship to include aspects of the European welfare state.
- Modernize and increase private participation in infrastructure.
- Promote SMEs, micro-enterprises and relations and exchanges between SMEs.
- Protect the environment and fight against deforestation.
- Promote migration between the two spaces.
- Consider that cooperation with Latin America can be a bridge to the Asia Pacific region.
- Promote projects in education, cultural and technological common and strengthen economic ties with the business.
Note that at the top of Cadiz denier November 2012, Latin American countries were in favor of countercyclical economic policies.