Reviving EU-CELAC relations

SGGP 07/19/2023 07:09

At the conclusion of the summit between the two sides held on July 17 and 18, the European Union (EU) pledged to invest more in the Community of Latin American and Caribbean States (CELAC). This is considered part of the EU's reform policy on international relations.

Leaders at the EU-CELAC Summit

Long-standing cooperation platform

More than 50 leaders from the EU and CELAC gathered in Brussels (Belgium) for the EU-CELAC Summit after an eight-year hiatus. EU officials see this as an opportunity to revive bilateral relations. At the summit, leaders addressed a wide range of topics such as: strengthening cooperation in multilateral forums, regional peace and stability, trade and investment, economic recovery, efforts to combat climate change, research and innovation, justice and security for citizens... to further strengthen the EU-CELAC partnership. Leaders also discussed how to exploit the enormous potential and opportunities that the ecological and digital transitions bring to enhance prosperity for the two regions. Both sides affirmed that the principles of social justice will form the basis for mobilizing cooperative efforts with the aim of ensuring that no one is left behind.

Europe and Latin America and the Caribbean have a longstanding partnership based on shared values and a shared commitment to democracy, respect for human rights and the rule of law. Together, the two regions represent more than a third of the United Nations membership and are a force for good in the multilateral system. They also share a common vision for protecting the planet.

Launched in 2010, CELAC is a bloc of 33 Latin American and Caribbean countries with the aim of uniting these countries to enhance political dialogue and socio-cultural integration of the region, improve the quality of life of its peoples, stimulate economic growth and enhance the well-being of all peoples.

The key link in strategy

European Commission President Ursula Von der Leyen said that now is the time when the two sides need each other more than ever. Citing the consequences of the Covid-19 pandemic, the conflict in Ukraine and China's growing assertiveness, Ursula Von der Leyen called for closer cooperation between the EU and CELAC. The head of the EU executive affirmed that the EU wants to become an important partner of CELAC. The EU is currently the largest foreign investor in CELAC, but China has become the bloc's largest trading partner. According to Ursula Von der Leyen, the EU is planning to invest 45 billion EUR in CELAC as part of the EU's Global Gateway strategy, a counterweight to China's Belt and Road infrastructure investment program.

On the economic front, the EU is looking to establish a new energy partnership with CELAC after cutting ties with Russia. The EU also wants to reduce its dependence on China for semiconductors for electric vehicles as it transitions to a low-carbon economy. The bloc is pushing for a trade deal with Chile, the world’s largest copper producer and second-largest lithium producer. The EU is also looking to accelerate trade deals with Mexico in 2018 and with the Mercosur bloc of Argentina, Brazil, Paraguay and Uruguay in 2019.

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