Post by Vinny on Jul 18, 2023 9:12:43 GMT
euobserver.com/eu-political/157277
Good thing / bad thing?
After an eight year hiatus, the European Union is trying to revive its relationship with Latin American and Caribbean countries during the EU-CELAC summit on Monday and Tuesday (17 and 18 July).
During his opening remarks at the meeting in Brussels, EU Council president Charles Michel said that while the EU and Latin America are already "close trade and investment partners" there is "massive untapped potential" for both regions to be unlocked.
He also said the summit should help both regions move forward in trade agreements with Chile, Mexico and the Mercosur countries (Argentina, Brazil, Uruguay and Paraguay).
"These trade deals have the potential to bring us closer together," he added, pointing out the importance of close ties in today's geopolitical context with rising tensions and disrupted supply chains.
The EU's relationship with the Latin American region has been hampered, among other things, due to the slow progress on the controversial Mercosur agreement.
While no major breakthroughs in the overdue agreement with Mercosur countries are expected as a result of the summit, both regions appear optimistic that the deal could be finalised this year.
"Our ambition is to settle any remaining differences as soon as possible so we can conclude this agreement," EU Commission president Ursula von der Leyen told reporters ahead of the summit.
During his opening remarks at the meeting in Brussels, EU Council president Charles Michel said that while the EU and Latin America are already "close trade and investment partners" there is "massive untapped potential" for both regions to be unlocked.
He also said the summit should help both regions move forward in trade agreements with Chile, Mexico and the Mercosur countries (Argentina, Brazil, Uruguay and Paraguay).
"These trade deals have the potential to bring us closer together," he added, pointing out the importance of close ties in today's geopolitical context with rising tensions and disrupted supply chains.
The EU's relationship with the Latin American region has been hampered, among other things, due to the slow progress on the controversial Mercosur agreement.
While no major breakthroughs in the overdue agreement with Mercosur countries are expected as a result of the summit, both regions appear optimistic that the deal could be finalised this year.
"Our ambition is to settle any remaining differences as soon as possible so we can conclude this agreement," EU Commission president Ursula von der Leyen told reporters ahead of the summit.