Latin America represents about one-sixth of the landmass of the world, contains the richest biodiversity on Earth and is home to more than 26% of the world’s water resources. More than 500 million people live in this region. Here we find major economic players, such as Brazil, Mexico or Argentina.
The EU is the leading investor in Latin America and the second-largest trading partner of the region after the US. The EU is also the biggest aid contributor to the region, which receives up to 60% of EU development funds.
Ten years ago, an economic crisis struck the Latin America and Caribbean (LAC) countries, the so called “lost decade” of the 1980s. What we find now is a region where a combined GDP would make it the second largest economy in the world if unified.
While the European Union still walks a very dangerous path through the Eurozone crisis, the Latin American and Caribbean region has rebounded strongly from the 2008-09 global crisis. But the EU has been mainly absent from Latin America’s economic boom, and if not contained, ongoing debt problems in Mediterranean Europe—notably Spain—can affect the European Union’s standing as LAC’s trade partner.
Over the next week, atlantic-community.org will publish daily opinion articles from regional experts, offering a range of opinions and policy recommendations on EU policy towards Latin America and the Caribbean, trying to answer, amongst others, questions like:
- How can bilateral and regional trade agreements, sustainable development and trade-related technical assistance boost economic integration in the region?
- Can the EU-LAC Strategic Partnership better address the challenges posed by the global financial crisis, promote global trade and investment and reject protectionism?
- Despite the fact there are several regional initiatives, Latin America doesn’t speak with one voice. Could the EU be a model of integration to follow?
- Is the increasing role of China, which is having an enormous influence on LAC economies, a challenge or an opportunity for EU interests in the region?
We count among our distinguished contributors:
- Raúl Rivera, Chairman of The Innovation Forum in Santiago de Chile, on how innovation should be the way to a new trans-Atlantic alliance.
- Hans-Hartwig Blomeier, Head of Team Latin America at the Konrad-Adenauer-Stiftung, on the region’s social, political and economic challenges.
- Gaspar Frontini, Head of the Latin America Unit at the DG Trade at the European Commission, who discusses what kinds of bilateral and regional agreements are the most effective.
- Susanne Gratius, Senior Researcher at FRIDE in Madrid, who argues that the EU is no longer a strategic partner for Latin America.
- Jiang Shixue, Professor at the Chinese Academy of Social Sciences, on the role that China could play in the relationship between Latin America and the EU.
- Carlos Malamud, Senior Analyst at the Elcano Royal Institute in Madrid, on why both regions still matter on the global stage and why they need each other.
- Cornelia Sonnenberg, General Manager of the German-Chilean Chamber of Commerce and Industry, on how small and medium-sized enterprises can enhance the EU-LAC Strategic Partnership.
As always, we invite all Atlantic Community members to make comments on these articles and the issues they raise; check back daily as we publish each new segment! After the theme week, we will present an Atlantic Memo bringing together the best policy recommendations from the articles and comments. We encourage you to make use of this opportunity to contribute fresh ideas and make an impact on the policy debate.
We kindly remind you to log in or register for free before commenting on articles.
Image Credit: Wikipedia, GNU Free Documentation License
- 18
December 18, 2011
Carlos Melches, Hochschule Magdeburg Stendal, (4)
A way to build bridges between Europe and Latin America could be the research and reflexion on the colonial activities of Europe in the past in latinamerica's countries in order to get a clear vision of the development of tradition of those relations. I suggest two ways to achieve this goal.
- the promotion of studies and research of those studies at the universities: these should be promoted by governments and private and publical foundations
- the promotion of information about political and christian institutions concerned on european debvelopment assistance in Latin America.
The knowledge of the existent engagement and interesting on each other could be an important step in order to trust the partners in oversee. The european cultural investment in Latin America is a good foundment for further activities in the future. I think, it is worth the trouble to know them and to appeciate them.