The European Union and CELAC (Community of Latin American and Caribbean States) met this week in Brussels to analyze investment opportunities that promote economic growth, improve people’s quality of life, and enable the development of more sustainable and equitable societies.
At the summit, the European Union presented a report identifying more than 100 projects of interest for investment in Latin America, covering a variety of key sectors and focusing on climate change, biodiversity protection, and food insecurity.
In this context, the Global Gateway agenda (the EU’s global investment and cooperation platform) has pledged 45 billion euros (US$50.5 billion) for infrastructure, renewable energy, digital services, electromobility, and sustainable agriculture.
The EU-CELAC bi-regional meeting brought heads of state and government from 60 countries together and was the first of its kind in eight years. In addition, members hope to close the agreements with Mercosur, Chile and Mexico.
The countries’ official delegations were accompanied by domestic business representatives, giving representatives of EU, Latin American, and Caribbean businesses opportunities for dialogue and to explore investment opportunities, promote trade and cooperation, and discuss sectoral issues of common interest.
In addition, at this III EU-CELAC Summit, the co-chairs stressed the importance of revitalizing a rules-based multilateralism to help ensure international peace and security, respect for the sovereignty and territorial integrity of nations, and avoidance of the threat or use of force against any state, as well as full respect for international law.